According to reports from the Telegraph, ASDA, the British division of US's biggest retailer Wal-Mart Stores Inc is contemplating a bid proposal for HMV, the former music retailer. ASDA is not only eyeing to purchase the former stores of HMV which they can renovate into a convenient food shops but also to purchase the brand name HMV including its business as told to the Telegraph.

Included in the Telegraph report is ASDA sitting down with Deloitte to discuss the purchase. Either party could not be reached for any comment regarding the matter. 

After the continuous decline of CD, DVD and video game market plus the uncontrollable increase of competitors, HMV had no choice but to sell its entire business. Last January, HMV appointed Deloitte to find a buyer. Last month, HMV's business in Hong Kong and Singapore including their licenses to operate in mainland China were already bought by Hong Kong based buyout firm that focused on the entertainment and media industry, AID Partners Capital.

Telegraph is remains mum as to the source of its information.