HMV to Close Flagship Oxford Street Store
The music and entertainment retailer will vacate its London site in March 2027 due to a proposed rent increase.
HMV will close its flagship store on Oxford Street in London in March 2027, three years after reopening the location. The decision impacts over 50 employees. The company cited a proposed doubling of the rent as the primary reason for the closure.
Phil Halliday, managing director of HMV, described the situation as "frustrating," stating the Oxford Street shop has become "commercially unviable." He added, "This is a special store, it's where we began 100 years ago and bringing it back to life in 2023 was a big moment in our recent history." The company is actively seeking a new location in London's West End to maintain a "significant presence" in the capital.
"We are looking ahead, and our focus is now on what we do to make exciting steps for HMV in 2027," Halliday said.