HMV announced plans to close its flagship store on Oxford Street in March 2027, ending operations at the location just three years after it reopened. The closure will impact more than 50 employees at the site. The entertainment retailer attributed the decision to a proposed rent increase that would double the current lease payment, combined with substantial renovation expenses required at the store. According to the company, these two factors together would render the location commercially unviable.
Phil Halliday, managing director of HMV, described the situation as frustrating given the store’s historical significance. He noted that the Oxford Street location holds particular importance to the company, having first opened there in 1921 and being a landmark in HMV’s recent history. The chain successfully reopened the site in November 2023 following a four-year closure and a deal negotiated with landlords.
HMV stated it is actively seeking an alternative site within London’s West End district to serve as its new flagship location. The company said it plans to maintain a substantial presence in the capital and will work to transfer affected staff members to its two other London stores and head office during the transition period. The broader HMV group operates 113 stores across the UK, including six locations under the Fopp brand, as well as eight additional sites across Europe. The company reiterated its commitment to maintaining a presence on British high streets.
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