The administrators of stricken music retailer HMV have confirmed that a number of parties have expressed an interest in buying the business.

The entertainment giant formally appointed administrators Deloitte on Tuesday (January 15) after failing to secure multi-million pound funding to pay off bank debt.

Deloitte have now told Sky News that they have had "very positive" expressions of interest from parties looking into taking over the business.

HMV CEO Trevor Moore said on Tuesday that he was confident that the business could be bought out, saying:

"We would hope to find a prospective buyer that could work with us to ensure that HMV - which is one of the consumer's 10 most favourite stores in the UK - remains on the high streets that we operate in."

The chain employs 4,123 staff and accounts for a large percentage of physical music sales in the UK.

It recently temporarily shut down its website and replaced its online store with a notice of administration.