Music and entertainment retailer HMV set to close its flagship Oxford Street store once again
HMV’s flagship London branch is to close its doors in March 2027, just over three years after reopening. The beloved chain has gone through a renaissance of sorts and has, impressively, bounced back following years of declining physical music sales.
The company says rising costs, particularly a proposed doubling of rent and substantial renovation works, have made the store commercially unviable.
In a statement, HMV managing director Phil Halliday said: “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.”
However, there’s potentially good news; Halliday says HMV is actively searching for a new location and hopes to open a replacement store in 2027: “We are looking ahead, and our focus is now on what we do to make exciting steps for HMV in 2027.”
The site in question, at 363 Oxford Street, first opened in 1921 but closed in 2019 before reopening in 2023.
The brand, which also operates several Fopp stores, has more than 100 sites across the country and has remained a relevant outlet thanks to several shifts in its approach to retaining its customer base. These include diversifying its product range beyond music, film and posters to anime, comic books, plush toys and other merchandise, including vinyl players and audio equipment.
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