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HMV plans to close its Oxford Street store in London next March due to landlords doubling the rent and imposing substantial renovation costs, making it commercially unsustainable. The music and entertainment retailer reopened this site in November 2023 after Canadian investor Doug Putman rescued it from insolvency but now faces challenges despite a reported 15 percent sales increase across its 123 UK stores in the first nine months of the year. HMV aims to keep a significant presence in London by finding a new location and redeploying staff to other company locations.
Written locally by qwen2.5:14b on 2026-10-12,
using this article's own text rather than the other coverage of the
same event (that is the story summary below).
Story summary
HMV, a music and entertainment retailer, plans to close its Oxford Street store next March after only three years since reopening. The company cites landlords proposing to double the rent as the primary reason, making it commercially unsustainable despite investing heavily in renovations. HMV first opened the site in 1921 and later closed due to financial difficulties before being revived by Doug Putman, owner of Toys R Us, in November 2023. The store employs 50 people who will be transferred to other London stores or head office while HMV searches for a new location in the West End.
Written for “HMV Store Closures” on 2026-10-12,
grounded in this article and the 0 other(s) covering the same event.
Why this leaning score
The model judged this article politically coded and scored it -0.35, but all 1 of its quote(s) are attributed speech - words the article quotes from someone, not the article's own narration, so the score is not published.
Written under an earlier scoring contract, which gave a paragraph
rather than checkable quotes. Re-analysing this article replaces it.
Leaning score withheld for article 74465: attributed speech only · logged 2026-10-12
HMV plans to close its Oxford Street store just three years after reopening the flagship site, blaming landlords for doubling its rent.
asserted
HMV → plan → rent
The entertainment and music chain said it plans to leave 363 Oxford Street in March next year but vowed to keep a 'significant presence' in London as it searches for a new store in the West End.
asserted
it → say → End
It said landlords had proposed doubling the rent and is facing a 'substantial' bill for renovation works, which made it 'commercially unsustainable' to keep its doors open.
asserted
it → say → doors
HMV first opened the site in 1921 and over the years has hosted performances and signings from the likes of Sir Paul McCartney and David Bowie.
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HMV → open → McCartney
It closed in 2019 after the chain fell into administration before reopening in November 2023 as Canadian Doug Putman, who also owns the Toys R Us chain, rescued it from insolvency.
asserted
who → close → insolvency
Managing director Phil Halliday said: 'This is a special store, it's where we began 100 years ago and bringing it back to life in 2023 was a big moment in our recent history.
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bringing → manage → history
'It's frustrating that it has been made commercially unviable.
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it → make → ?
However, we are looking ahead, and our focus is now on what we do to make exciting steps for HMV in 2027.
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we → look → 2027
HMV will close its flagship Oxford Street next spring, after landlords proposed doubling the rent
HMV said it would look to transfer its 50 employees to its two other London stores and head office as it looks for a new shop.
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it → close → shop
It came as the chain, which has 123 stores across the UK, reported a 15 per cent uptick in sales in the first nine months of the year.
asserted
which → come → year
Revenues for shops and online trading are set to reach £240million, up from £212million in 2025.
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Revenues → set → 2025
Once seen as a casualty of online music streaming, HMV has enjoyed a renaissance, thanks to a revival in demand for physical CDs and vinyl in recent years.
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HMV → see → years
Halliday said: 'We hope to redeploy affected team members through other London stores and head office roles and are exploring ways to minimise the impact on jobs while we seek a new flagship site.
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we → say → site
'
'We're actively looking for a new location in the West End and are determined to give London a store that music fans can be proud of,' he added.
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he → look → that
Halliday told the Daily Mail last year that high street operators had paid more than online rivals such as Amazon and Apple.
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operators → tell → Amazon
'That burden should be more evenly spread.
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burden → spread → ?
In the High Street we have had our share of the tax rises, and we would hope that they look somewhere else.
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they → have → rises
If you take out a product This is Money may earn a commission.
uncertain
This → take → commission
These deals are chosen by our editorial team, as we think they are worth highlighting.
asserted
they → choose → team
This does not affect our editorial independence.
asserted
This → affect → independence
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