The Financial Times reported the news on Friday, citing Martyn Gibbs, chief executive of Game, as saying its management had approached HMV administrator Deloitte for more information.
Gibbs would not confirm the number of stores the company could be interested in, the report said.
HMV is understood to have between 40 and 45 stores in locations where Game is not present.
“We will constantly review our property portfolio based on what is available,” Gibbs told the Financial Times. “I would not rule out any stores becoming available, be that through an administration or normal property deals.”
Game’s approach is said to be one of about 50 expressions of interest, the report added.
Previous news reports confirmed those parties include Leeds-based turnaround specialist Endless, Jon Moulton’s Better Capital, private equity firm Oakley Capital and Hilco, which owns HMV Canada and has relationships with HMV’s suppliers.
OpCapita bought Game’s UK assets out of administration in April last year, saving almost 3,200 jobs.
Gibbs told the FT that Game’s sales over Christmas were ahead of expectations, and was confident it could deliver its £20m EBITDA target by its year-end results in July.
HMV collapsed into administration on Monday, as growing competition from supermarkets and internet retailers impinged on profitability, making it difficult for the company to meet banking covenants due at the end of January.
Deloitte plans to keep HMV’s 230 stores open while seeking a buyer for the company.
Reports in December said Apollo Global Management had bought a chunk of HMV’s loans in a bid to eventually seize control of the beleaguered British music retailer, although reports this week suggested the US buyout giant was not planning a takeover.
In its interim results in December HMV said it was likely to breach key loan agreements in January and April, which sent shares plummeting 39 per cent to 2.49p – valuing the company at just £10m.
The announcement also included news of a £37.3m first-half loss, which the company blamed on poor sales in the run-up to Christmas.
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