Businessmarkets
HMV to close Oxford Street store after three years
Entertainment retailer HMV has announced plans to close its iconic flagship Oxford Street store in London after just three years since its triumphant reopening. The decision comes as the company faces a proposed doubling of its rent and substantial renovation costs, rendering the current location commercially unviable. More than 50 employees are affected by the upcoming closure scheduled for March 2027. However, management has stated its commitment to finding a new venue within London's West End and hopes to relocate affected staff members to other local branches.