Suppliers ready to make HMV U-turn and back new-look chain

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Having turned their back on HMV in the week leading up to its administration, suppliers have reportedly had a change of heart.

MSN reports that companies including Sony, Universal Music and Warner Music are planning to offer HMV suitors generous credit terms and cut the price of CDs and DVDs to help keep HMV's presence on the high street”.

The plan arrives on the back of increased noise surrounding interest from HMV owner Hilco which is understood to be locked in talks with administrator Deloitte.

Other reported potential suitors include GAME, The Works owner Endless and private equity outfit Better Capital.