HMV administrators to sell company before next week

HMV’s administrators, Deloitte have set a deadline date of 25 March for the financially-troubled company to be sold by.

The cash-strapped music chain originally went into administration back in January and have since had £110.3m of their debt taken control of by retail restructuring group Hilco.

Hilco are among the forerunners likely to bid for the whole of HMV, but other potential candidates have emerged recently – including UK supermarket ASDA.

It’s also been revealed that HMV’s debts at time of their administration was a whopping £347m.