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Mike Ashley in talks to buy music chain HMV

Mike Ashley in talks to buy music chain HMV
Business
Mr Ashley owns more than 60% of Sports Direct, and through it he has bought retailers including the House of Fraser department store chain and Evans Cycles.

His company also owns stakes in French Connection and Debenhams.

After establishing Sports Direct in 1982, he built his business by buying up well-known names such as Dunlop, Slazenger, outdoor gear specialist Karrimor and the boxing brand Lonsdale.

After many years of growth and the demise of rivals such as JJB Sports, it is now the UK s largest sportswear retailer, with more than 400 stores including Lillywhites in London s Piccadilly.

Sports Direct also owns a stake in Game Digital, which Mr Ashley could merge with HMV if he is successful, Sky News said.

KPMG set a deadline of last Tuesday for bids for the stores, but has not named any bidders. There is said to be no deadline for a decision.
Read more on bbc.com
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