Doug Putman, the owner of Canadian record store chain, Sunrise Records, is said to be interested in purchasing HMV.\r\n\r\nThe retail boss would rival Sports Direct owner, Mike Ashley, who has already placed a bid for the entertainment retailer. HMV administrators KPMG refused to comment on Putman\u2019s interest, which was first reported in Music Week. In 2017, Putman bought HMV\u2019s Canadian arm, expanding his small chain into an 80-store strong business.\r\n\r\nPutman\u2019s bid is said to secure the future of up to 90 of HMV\u2019s 125 UK stores, it is also reported that the brand would be changed to that of Putman\u2019s Sunrise Records. KPMG has confirmed that HMV Brands, which owns the rights to HMV\u2019s name is not in administration, unlike HMV Retail, which controls its stores.\r\n\r\nAshley was favourite to take over at the entertainment retailer, after recently acquiring, Sofa.com, Evans Cycles and House of Fraser. The retail mogul also owns more than 60% of Sports Direct, along with stakes in French Connection and Debenhams.\r\n\r\nHMV entered its second administration in six years in December, threatening 2,000 jobs across 125 stores. Current HMV owner, Hilco, said the chain had faced a \u201ctsunami\u201d of retail challenges leading up to its administration. Stores are continuing to trade while negotiations over the company\u2019s future continue.\r\n\r\nThe entertainment chain sold 31% of physical music sold in the UK for 2018 and 23% of all physical video. Despite the positive figures, the music industry expects to see a 17% drop in physical sales this year.