Online retailer Play.com is hunting for investment to fund its European-wide expansion.

Lazard has been appointed to sell a stake in the etailer. The new investment will finance its growth into new categories in the UK as well as an “aggressive European expansion plan”.

Play.com is the third largest online retailer behind Amazon and eBay. The online retailer is predicted to be worth around £400m.

The retailer’s plans are in stark contrast to high street rival HMV which this week issued another profit warning.

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