HMV to close Oxford Street store after three years
Summary
HMV will close its flagship Oxford Street store in March 2027 because the rent is set to double and renovation costs are high. The company plans to find a new location in London’s West End and will keep a strong presence in the city.Key Facts
- HMV first opened the Oxford Street store in 1921 and reopened it in 2023 after a four-year break.
- The store will close in March 2027 due to a proposed rent increase and expensive renovation work.
- More than 50 staff members will be affected by the closure.
- HMV plans to transfer some employees to other London stores and its head office.
- The company is searching for a new flagship store location in London’s West End district.
- HMV operates 113 stores in the UK, including some under the Fopp brand, plus eight stores in Europe.
- The company stated it is still committed to having stores on the high street (main shopping streets).
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