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HMV to close 'unsustainable' Oxford Street store just three years after reopening its flagship site

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Cite

Carrick, A. (2026, October 12). HMV to close 'unsustainable' Oxford Street store just three years after reopening its flagship site. Daily Mail. https://www.dailymail.com/money/markets/article-16201937/HMV-close-unsustainable-Oxford-Street-store-three-years-reopening.html?ns_mchannel=rss&ns_campaign=1490&ito=1490

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Daily Mail · collected 2026-10-12 · by Angharad Carrick

Quick Summary

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 by AI on 2026-10-12, from this article's own text only (the story summary below draws on all the coverage).

AI analysis

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 2026-11-03, grounded in this article and the 0 other(s) covering the same event.

Story

📰 HMV Store Closures
Other · 1 article(s) covering the same event.

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How this article was measured signals, leaning charts, publisher record, byline, topics and claims

Signals How these are calculated →

Claims extracted
20
sentences that state something as happening or true
Uncertain
5%
1 of 20 hedged ("reportedly", "may", "according to")
Leaning
withheld
no quote in the article backed the model's score
Publisher signals
69/100
Daily Mail's corrections and hedging, across everything collected from it. Not a measure of accuracy.
Outlets on this story
1
Other
Same framing elsewhere
1
articles that frame the event the way this one does
Analyzed 2026-10-12 · how these are computed

How this is being covered How these are calculated →

Article leaning vs. publisher reliability
Source leaning vs. consistency

Publisher

Daily Mail · 8872 article(s) · 22 correction(s) detected
Running correction rate · 22 correction(s)

Who wrote this

Angharad Carrick
9 article(s) here · 1 carrying a prediction
🔮 Income tax thresholds will remain frozen until 2031, adding to the growing tax burden on millions of workers and pensioners.
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🔮 John Healey looks set to launch a punishing raid on banks today just hours after bumper profits at HSBC sparked a pre-Budget row over windfall taxes.
🔮 Sky’s takeover of ITV may be blocked after the culture secretary said she was ‘minded to intervene’ in the deal.
🔮 Artificial, a film about OpenAI starring Andrew Garfield as Sam Altman, will be released later this year.
🔮 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.
🔮 A sharp selloff in bonds will add to the Chancellor's headache ahead of the Budget In Britain – which already suffers from the highest borrowing costs in the G7 – yields on the 10-year gilt climbed to 5.509 per cent.
🔮 - See more This is Money on Google - save us as a Preferred Source The Bank of England held interest rates at 3.75 per cent today, but warned that surging energy prices could push it to increase the benchmark rate in the coming months. The Monetary Policy Committee voted to keep the Bank rate at its current level for the sixth meeting in a row, holding firm as other central banks hike rates to combat higher inflation. There was no change from July's meeting, with six rate setters voting to keep the benchmark rate at 3.75 per cent and three voting to hike.
Also by Angharad Carrick
Nothing else under this byline is closely related to this article, so these are simply their most recent.
All 9 articles by Angharad Carrick →

Topics

Canadian HMV Halliday London Toys R Us

Subjects

HMV ORG · 7× London GPE · 4× Halliday PERSON · 2× Canadian NORP · 1× David Bowie PERSON · 1× Doug Putman PERSON · 1× Paul McCartney PERSON · 1× Phil Halliday PERSON · 1× Toys R Us ORG · 1× the Daily Mail ORG · 1×

Narrative

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.
framing: assertive · carried by 1 article(s) · first seen 2026-10-12
🔮 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.

Claims (20 extracted, 1 hedged)

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. asserted
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. asserted
bringing → manage → history
'It's frustrating that it has been made commercially unviable. asserted
it → make → ?
However, we are looking ahead, and our focus is now on what we do to make exciting steps for HMV in 2027. asserted
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. asserted
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. asserted
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. asserted
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. asserted
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. asserted
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. asserted
operators → tell → Amazon
'That burden should be more evenly spread. asserted
burden → spread → ?
In the High Street we have had our share of the tax rises, and we would hope that they look somewhere else. asserted
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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