HMV's potential new owners may re-open some of the music chain's closed stores.

The news has emerged as Hilco continues discussions to buy the High Street firm.

A deal could be struck within 10 days although it will need to be approved by other stakeholders in HMV – namely the suppliers and landlords – and record labels and film studios.

The talks could lead to some of the suppliers taking a stake in the new HMV.

Bolton's HMV closed last Thursday yet some stores including Stockport, Manchester Market Street and Argyle Street, Glasgow, have been instructed to remove their ‘closing down sale’ signs from store windows.

The entertainment industry is keen for the brand to be saved as research has estimated that if HMV disappeared from the High Street, entertainment retail sales of £300m would be lost – more than nine per cent of the total entertainment market.

Hilco is looking to buy around 120 HMV shops and could reverse a number of store closures that have happened in recent weeks. Hilco is the only party still in discussions with administrators Deloitte about a deal.

HMV was called into administration in January, with a reported secured debt of £110.3m. Reports have suggested that Hilco's formal offer for the company is in the region of £50m.