HMV has said it will shut its flagship Oxford Street store three years after it reopened the site, blaming a proposed doubling of the rent for the closure.
The entertainment chain said it would leave the shop in March 2027, in a move affecting more than 50 staff.
It said it was looking for a new site in London’s West End district for its flagship shop and said it planned to maintain a “significant presence” in the capital.
Phil Halliday, managing director of HMV, said it was “frustrating” that the Oxford Street shop was “commercially unviable”.
He 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.
“We are looking ahead, and our focus is now on what we do to make exciting steps for HMV in 2027.”
