HMV to close Oxford Street store after three years

HMV, the entertainment chain, announced its decision to close its flagship Oxford Street store in March 2027, three years after reopening the site. The closure was attributed to a proposed doubling of the rent, making the shop commercially unsustainable. The decision affects over 50 employees who will be reassigned to HMV's other London stores and headquarters.

The chain, which currently operates 113 stores across the UK, including six under the Fopp brand and eight in Europe, remains committed to high street stores. HMV's managing director, Phil Halliday, expressed frustration over the Oxford Street store's commercial unviability, stating that it was a special store that marked a significant moment in the company's history since its reopening in November 2023 after a four-year absence.