HMV blames a doubling of rent as it announces the closure of its flagship Oxford Street store in early 2027. More here. On the same day that online physical media retailer Zavvi went into administration, the news also landed that HMV is having to shut down its flagship Oxford Street store. The shop, which only ... HMV shutting down its flagship Oxford Street branch, blames rent rises
HMV blames a doubling of rent as it announces the closure of its flagship Oxford Street store in early 2027. More here.
On the same day that online physical media retailer Zavvi went into administration, the news also landed that HMV is having to shut down its flagship Oxford Street store.
The shop, which only reopened after previously serving as an American sweet shop, stands at 363 Oxford Street, the firm’s original London home. It was with some fanfare that it returned there a few years ago, but now, the doors are set to shut early next year.
In this case, it’s not, thankfully, because of the frailty of the company. Instead, it’s due to a doubling of rent from its landlords.
HMV has plans to maintain a sizeable store in London, it’s confirmed, but it’ll no longer be on Oxford Street, where it’s been standing again since 2023.
The Oxford Street store is home to a huge selection of physical media, once you’ve got past the ground floor of merchandise and tat. In fact, I’d argue that the ground floor of the shop gives a misleading impression as to just how much product is hiding in the shop itself. Pop up the escalator and it’s a thoroughly joyously collection of DVDs, Blu-rays and 4K Ultra HD Blu-ray discs that you can actually buy in person. Not just the top 20 titles or anything.
By the looks of things, HMV is planning to keep staff on once the Oxford Street branch closes in early 2027. The idea is to offer them positions at either of its other two London stores, or at its head office, while it searches for fresh premises.
Thankfully, HMV has restated its commitment to putting a physical shop on a physical high street, and it currently runs over 100 stores around the UK (including those under the Fopp banner.)
More, as always, as we hear it.
