High Street Horror: Your local HMV store could become a Tesco Metro
24th Jan 2013 | 23:39
Masterplan: Supermarkets kill HMV, set up shop in empty HMVs
The latest speculation surrounding the future of HMV suggests many of them could be turned into town centre convenience stores.
Administrators Deloitte are currently weighing up the options after the entertainment retailer collapsed last week.
It is thought that even if a buyer is found - and that's looking increasingly like HMV Canada owner Hilco - not all of the company's 230 UK and Ireland stores will survive.
That news, according to the Guardian, has supermarket vultures Morrison's, Tesco and Sainsbury's circling around vulnerable stores with a view to expanding their own presence on the high street.
The report claims that Morrison's is looking to buy up 20 sites from HMV, while also sniffing around soon-to-be-vacant Blockbuster outlets.
It is widely acknowledged that HMV's life was made much more difficult by supermarkets undercutting its prices on CDs, games and DVDs, so it would be a cruel irony if our local HMV became a Tesco Metro.
Neil Saunders of Retail analysts Conlumino said: "There is a big push for good convenience store space and there is probably more demand than supply.
"HMV has some quite prime sites on high streets, but not all its sites will be suitable."
The HMV saga looks set to rumble on in the coming weeks. Earlier this week, we reported on news that Hilco had snapped up the company's £176m debt for a cut-price £40m, with a view to buying up the chain.
Yesterday brought rumours that Hilco also has its eye on Jessops and wants to open up photography kiosks within HMV stores.