GAME eyeing 40-45 HMV stores for acquisition

GAME has spoken with HMV administrators Deloitte over a possible acquisition of some of the stores.

GAME's boss Martyn Gibbs confirmed the information, but wouldn't provide information on a monetary figure offered. GAME is looking at 40-45 stores in cities where it is not currently located.

“We will constantly review our property portfolio based on what is available,” Gibbs said to The Financial Times. “I would not rule out any stores that are becoming available, be that through an administration or normal property deals.”

Gibbs said the firm, which itself was in a bit of a pickle last year, were financially “ahead of expectations” and will hit its expected £20 million in annual earnings target by July.

GAME currently has 300 UK stores in operation.

Thanks, MCV.