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Newcastle United owner Mike Ashley reportedly in talks for possible HMV takeover

The struggling high street music chain HMV has more than 100 stores Credit: PA

Newcastle United owner Mike Ashley is in talks for a possible takeover of HMV, according to reports.

The Sports Direct owner has handed an offer to administrators KPMG for the struggling high street music chain, which has more than 100 stores, according to reports.

It comes months after he saved House of Fraser, the department store chain, from collapse in a £90m deal in August 2018.

Newcastle United owner Mike Ashley is in talks for a possible takeover of HMV, according to reports. Credit: PA

KPMG said "a number of offers" have been received for HMV since it went into administration in December, but has declined to reveal the identity of bidders.

Mr Ashley is said to have spoken with music and entertainment industry figures about his possible rescue deal.

Around 2,200 jobs were put at risk when HMV went into administration.

KPMG gave a deadline of January 15 for offers and said on Wednesday that several were made "on various bases".

Will Wright, a partner at the firm and joint administrator of HMV, said they would "evaluate these further over the coming days".

We will continue to endeavour to trade all stores while discussions with all the relevant stakeholders continue."

– Will Wright, a partner at the firm and joint administrator of HMV

Mr Ashley's recent House of Fraser takeover included all 58 of its UK stores and he vowed to turn it into the "Harrods of the high street".