UK retailer GAME interested in buying HMV stores after administration filing

GAME, a U.K. chain of video game retailers, is looking to acquire as many as 45 HMV stores now that HMV has entered administration, reports the Financial Times.

Martyn Gibbs, CEO of GAME, confirmed that the company had reached out to HMV administrator Deloitte, but would not say how many stores it was interested in. The Financial Times cited anonymous sources that said there were 40 to 45 locations where HMV stores exist but GAME stores don't.

"We will constantly review our property portfolio based on what is available," Gibbs said. According to Gibbs, GAME's holiday 2012 sales were "ahead of [the company's] expectations," and he believes the retailer is on track to meet its target of £20 million in revenue by the end of its fiscal year in July.

HMV entered administration Monday, Jan. 14, and according to the Financial Times, Deloitte has already received approximately 50 inquiries about HMV establishments. Companies said to have made overtures to Deloitte include private equity firms Better Capital and Endless, investment firm Oakley Capital and HMV Canada owner Hilco. HMV CEO Trevor Moore said he is "confident" that the 91-year-old retail chain will make it out of administration.

GAME survived administration itself last March; about 300 stores were closed, and GAME was bought out by investment firm OpCapita.

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