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Business News

Supermarkets circle empty HMV shops

Iceland, Tesco, Sainsbury's and Morrisons have all submitted bids for HMV stores that are the right size to be run as supermarkets.

HMV, the music retailer, collapsed last month and the administrator Deloitte, advised by the property agency CBRE, set a Friday deadline for bids on more than 220 shop leases. The operational business is being sold off separately.

Tesco is thought to want 20 stores, while Iceland is eyeing up 50 and Sainsbury's around 25. The supermarkets are up against discount chains like Poundland and 99p Stores, as well as River Island and Arcadia.

Shops leased to Jessops and Blockbuster are also on the market, with Savills appointed to advise on the sale. Morrisons is said to be keen on a batch of Blockbuster stores in residential locations.