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Sports Direct founder Mike Ashley is in talks to buy HMV

The British billionaire retrail entrepreneur has placed a bid...

hmv1
hmv1

Sports Direct, House of Frasier and Newcastle United F.C. owner Mike Ashley has placed a bid to buy HMV.

The British billionaire retrail entrepreneur is in talks to buy the UK music chain, which went into administration for a second time in December.

Ashley's bid is one of several offers that have been placed to take ownership of the chain, whose stores remain open during the negotiation process. 

Sports Direct have a stake in Games Digital, which is expected to merge with HMV is Ashley's bid proves successful. 

Earlier this month, it was revealed that 4.3 million vinyl records were sold in 2018.

In November, three new record shops opened in London in a single week.

Mike Ashley is the father of Ollie Ashley, founder of the now defunct Radar Radio, which suspended broadcasting last year  after a number of serious claims were made against the station citing abusive practice, “organisational racism” and an exploitative environment for women, people of colour and LGBTQ+ people. It was later reported that the station was allegedly £4 million in dept.

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