The Newshound

Landlords double the rent and force HMV out of Oxford Street AGAIN just three years after its triumphant return

From the Newshound archive · first published 12 October 2026 · last updated 13 October 2026.

HMV's Oxford Street store will close in March 2027 after landlords proposed doubling its rent and handed it a renovation bill it called "commercially unsustainable.
HMV's Oxford Street store will close in March 2027 after landlords proposed doubling its rent and handed it a renovation bill it called "commercially unsustainable.

HMV will close its Oxford Street flagship in March 2027, having reopened there fewer than three years ago, after landlords moved to double the rent at 363 Oxford Street and demanded that HMV fund "substantial" renovation works — costs that together rendered the location "commercially unsustainable." More than 50 employees face disruption; the company says it will seek to place them across its remaining two London stores and head office. Managing director Phil Halliday described it as "frustrating" that a well-performing store had been pushed into an unviable position. HMV is already searching for a new West End flagship and has pledged to maintain a "significant presence" in London.

The paradox is stark: HMV's like-for-like sales are UP 15% in 2026, with revenues on course to reach £240m — the closure is driven entirely by landlord pressure, not trading performance.

HMV first opened at 363 Oxford Street in 1921, went into administration and shut the site in 2019, then came back in November 2023 after Canadian owner Doug Putman struck a deal with the landlords.

Halliday says HMV is "actively looking" for a new West End site and wants to give London 'a store that music fans can be proud of.'

MoreMyLondonHMV closing Oxford Street store yet again but hunt is underway for new London flagship site - My Londonthisismoney.co.ukHMV to close Oxford Street store three years after reopening flagshipWales OnlineHMV announces major store closure three years after relaunch - Wales Onlineaol.co.ukHMV issues huge update on massive Oxford Street flagship storeaol.co.ukHMV to close Oxford Street flagship store just three years after reopeningThe SunHMV announces ‘frustrating’ closure of flagship UK store just 3 years after reopening as rent DOUBLED - The SunThe IndependentWhat next for HMV after flagship store closure announcement?This Is MoneyHMV to close 'unsustainable' Oxford Street store three years after reopeningiNewsHMV to close on Oxford Street three years after reopening
Read today's full feed at The Newshound →