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HMV will close its Oxford Street flagship store in March 2027

The chain blamed a proposed doubling of rent and substantial renovation costs, affecting more than 50 staff.

Reported · Written up by our desk · Equities

HMV said it will shut its flagship Oxford Street store at 363 Oxford Street in March 2027, about three years after reopening the site, according to BBC Business.

The entertainment retailer blamed the closure on a landlord proposal to double the rent and on a bill for substantial renovation works, which it said would make the shop commercially unsustainable.

HMV said the move will affect more than 50 staff, and it plans to transfer affected workers to its two other London stores and its head office while it searches for a new site in the West End to maintain a significant presence in the capital.

BBC Business also reported that HMV reopened the store in November 2023 after a four-year absence following a deal secured with landlords.

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