HMV closes London’s Oxford Street iconic flagship store (again)

The British record store HMV will close its iconic flagship store on Oxford Street in London, barely three years after its reopening. The main reason for the closure: the building’s owner wants to double the rent. There are also looming major renovation costs that would make the store commercially unsustainable.

The very first location

The store, which employs more than fifty people, will close its doors in March of next year. HMV says it intends to transfer the affected employees to its two other London locations or to its headquarters. The company is searching for a new location in London’s West End and emphasizes that it wants to maintain a “significant presence” in the capital.