HMV's Oxford Street Flagship to Close Again After Landlord Proposes Doubling Rent

HMV has announced that its flagship store at 363 Oxford Street, the company's original location first opened in 1921, will close once more in March 2027. The closure was triggered by the landlord proposing to double the rent, combined with mounting renovation costs that made the site financially unviable — despite the store recording a 25% year-on-year increase in sales. When HMV entered administration in 2019, Canadian businessman Doug Putman stepped in, acquiring the brand through Sunrise Records and saving more than 100 UK stores, though the Oxford Street flagship was not among them. After four years away, the store reopened at its historic address in 2023, welcoming artists including Troye Sivan, Addison Rae, and Jamie T for signings and performances. Managing director Phil Halliday described the store as "special" and called its 2023 revival "a big moment in our recent history," adding that it is "frustrating that it has been made commercially unviable." HMV says it is actively searching for an alternative West End location to maintain its London presence, and expects that the more than 50 affected staff members will be redeployed to other London stores or the company's head office.