HMV to close its flagship Oxford Street store three years after reopening the historic site
Summary
HMV is set to close its flagship Oxford Street store in March next year, just three years after its comeback to the location where it was founded more than a century ago, City A.M. reported on Monday 12 October. The music and entertainment retailer blamed a doubled rent bill and the cost of 'substantial' renovations, and said landlords have proposed doubling the rent on the site at 363 Oxford Street, according to the Evening Standard and The Independent. Remaining open would make the store 'commercially unsustainable', Metro UK reported, and HMV is searching for a new location in London's West End, according to The Independent. HMV said it would look to transfer affected workers, according to Wales Online.
Latest: HMV said its flagship Oxford Street store will shut its doors in March next year, three years after reopening the historic site, blaming a doubled rent bill and the cost of 'substantial' renovations.
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How it unfolded
Monday 12 October
HMV said its flagship Oxford Street store will shut its doors in March next year, three years after reopening the historic site, blaming a doubled rent bill and the cost of 'substantial' renovations.
- 05:44Wales OnlineHMV announces major store closure three years after relaunch
- 05:21Evening StandardHMV to close Oxford Street store three years after reopening historic site
- 05:20The IndependentHMV to close Oxford Street store three years after reopening historic site
- 05:15The IndependentHMV to close flagship Oxford Street store due to soaring rent
- 05:15Metro UKHMV on Oxford Street to close just three years after reopening