HMV administrators confirm a number of “proposals”

3999
HMV
// HMV administrators confirm a number of “proposals” have been made
// The update comes amid mixed Christmas trading updates from retailers

HMV administrators have revealed a number of “proposals” have been put forward for the embattled entertainment retailer which fell into administration last month.

Administrators at KPMG had set an initial deadline of Tuesday for submissions for HMV, and have now confirmed that they had received bids.

“Since our appointment as joint administrators, we have received significant support from key stakeholders, including employees, suppliers and creditors, as we have endeavoured to trade the HMV business,” KPMG joint administrator and partner Will Wright said.

He added: We’d like to thank everyone for their support during this time, in what remain challenging circumstances.

“We can confirm that a number of offers on various bases have been received, and we now need to evaluate these further over the coming days.

“Given the commercially sensitive nature of this process, we will not be providing further detail at this time. We will continue to endeavour to trade all stores while discussions with all the relevant stakeholders continue.”

The update comes amid Christmas trading updates from retailers, with many pointing towards a reduced footfall in town centres.

When HMV filed for administration between Christmas and New Year, it blamed a “tsunami” of retail challenges, including business rate levels.

Click here to sign up to Retail Gazette‘s free daily email newsletter