Restructuring firm Hilco remains the only bidder in the frame for collapsed entertainment retailer HMV as its future looks to be determined in the next few days.

Hilco is understood to be vying to acquire HMV, its brand and approximately 130 of its remaining 220 stores in a deal thought to be worth more than £50m, according to The Independent.

Grocer Asda was understood to be in talks to buy HMV earlier this month. HMV plunged into administration in January appointing Deloitte.

Hilco, which bought the entertainment retailer’s Canadian business in 2011, has been a front runner to buy HMV since acquiring its debt in January.

Meanwhile four offers have been received by administrator Deloitte for HMV-owned retailer Fopp. However the nine store retailer is likely to remain tied to HMV.