Supermarkets battle it out to turn HMV into a food shop

-

Four UK supermarket chains are to submit bids to turn HMV’s stores into food shops, reports say.

The Independent claims that Tesco, Sainsbury’s, Morrisons and Iceland are all interested in purchasing some of the music retailer’s premises.

This follows news earlier in the week that HMV’s administrators, Deloitte are set to close between 60 and 100 stores nationwide.

HMV currently has 223 High Street shops, which means they could downsize by 50% and lose up to 1,500 jobs.

It’s been reported that one of the company’s flagship stores situated in Oxford Street and Piccadilly Circus will be among those shut.

It was revealed last week that HMV’s decline has boosted January record sales, with the rallying of support for independent stores and chains alike in the aftermath of such financial troubles

HMV originally went into administration last month. The chain employs around 4,000 workers.