ASDA Interested in Buying HMV?

One of UK's biggest supermarket chains ASDA could be on the verge of buying the troubled retailer HMV.

According to The Sun's unnamed source in the City a deal is on the cards but must be made within the next two weeks.

ASDA, of course already sells entertainment products within its stores, but owning HMV would give it tremendous presence in the entertainment sector. Recently ASDA launched Disney concessions within three of its supermarkets. if this deal went through, could we see a similar thing happening with HTMV concessions springing up in stores? It's just rumour and speculation at the moment.

A lot has happened to HMV since the beginning of the year, with Canadian restructuring firm Hilco stepping in to save the company from bankruptcy back in January by acquiring its debt and store closures being announced in February.

Former GAME boss Ian Sheperd remains sceptical over the story. He thinks it might be misinformation to drum up interest in the company:

Today's big retail story: "administrator tries to create illusion of bidding competition shortly before rent deadline"
— Ian Shepherd (@IanAShepherd) March 12, 2013