HMV says it will close its flagship store on London’s Oxford Street after reopening the site about three years ago. In a statement, the company says the current location is “unviable” and that keeping the store open would be commercially unsustainable.
HMV says it is looking for a new premises in London’s West End. Multiple outlets report the decision is linked to rising occupancy costs, including claims from HMV that landlords have proposed doubling the rent, along with additional costs for renovation work. Reports also note the store is at 363 Oxford Street and that HMV’s management is working to find an alternative site in the area rather than continue operating under the current terms.
