Mike Ashley demands six months of free rent from HMV’s landlords

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Rent holiday: Sports Direct tycoon Mike Ashley has put in an offer for HMV


Mike Ashley demands six months of free rent from HMV’s landlords if he takes over collapsed music chain

City & Finance Reporter for the Daily Mail

Rent holiday: Sports Direct tycoon Mike Ashley has put in an offer for HMV

Rent holiday: Sports Direct tycoon Mike Ashley has put in an offer for HMV

Mike Ashley is believed to be demanding that HMV’s landlords give him six months of free rent if he takes over the collapsed music chain.

The retail tycoon wants the rent holiday as part of his deal to take over the company. 

If he is successful, it will add another 125 stores to his empire.

Ashley was one of a number of bidders to put in a formal offer with KPMG, which is in charge of HMV’s administration, before a deadline of January 15.

The 54-year-old Sports Direct founder has already bought Evans Cycles and House of Fraser in cut-price deals in the past six months. 

Speculation has been mounting that he is plotting a merger between HMV and Game Digital, in which he has a stake of more than 25 per cent.

HMV collapsed three days after Christmas when its owner, HMV Retail, had to appoint administrators for the second time in six years. Its demise underlined the crisis gripping the High Street.

Sports Direct declined to comment last night.

 

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