HMV says 5 stores at risk of shutting down will now stay open

HMV says 5 stores at risk of shutting down will now stay open
HMV said it was also relocating in Lincoln and Plymouth, with new stores opening in both cities at the start of February. (Image: Kirsty O'Connor/PA Wire)
// The 10 store closures HMV recently warned of has now been reduced to 5, after securing new deals with landlords
// Of the 5 remaining stores at risk of closure, 2 have been confirmed to shut down at the end of January
// The remaining 3 remain at risk of closure unless a new deal with landlords is reached

Five HMV stores which had been at risk of closing will now remain open after the music retailer was able to secure new agreements with landlords.

However, the five other stores out of the original batch of 10 remain at risk of closure.

HMV warned that three stores could still shut at the end of January unless new deals can be reached.


The two remaining stores will shut at the end of the month.

HMV previously confirmed that its Bury St Edmunds, Fopp Glasgow on Byres Road and Nuneaton stores will shut at the end of the month.

The retailer said that some stores were no longer viable due to “extortionate” business rates in certain locations.

The HMV stores that had been at risk of closure, but will now remain open are: Glasgow Braehead, Edinburgh Ocean Terminal, Reading, Sheffield Meadowhall and Grimsby.

The three stores still under threat of closure are Bristol Cribbs, Worcester and Merryhill.

Its Birmingham Bullring and Leeds Headrow stores are the two that will shut down at the end of January, HMV said.

The HMV Vault, which opened in Birmingham in October last year, and its store at the St John’s shopping centre in Leeds, will not be affected.

HMV said it was also relocating in Lincoln and Plymouth, with new stores opening in both cities at the start of February.

“The closures are no reflection on our superb staff and where we are not able to come to a new agreement or relocate staff within the business elsewhere, unfortunately this does mean some of our staff will lose their jobs,” HMV said in a previous statement.

HMV was purchased in a rescue deal by music mogul Doug Putman in February last year after it crashed into administration for the second time in five years in December 2018.

Putman, who runs the Canadian retailer Sunrise Records, closed 15 stores after taking control of the business.

One of the 15 stores that shut include the famous Oxford Street flagship in London, where it had a presence since 1921.

with PA Wires

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  1. At the end of the day is anyone surprised by store closures. M and S’s old Ashford Kent store has a sublease rent of £150k a year for a 34k sq feet three floor store but £154k business rates. When business rates cost more than the lease no wonder they are closing stores. The business rates system needs urgent reform and moving to one based on store turnover to preserve jobs.

  2. “One is set by the Landlord and the other by the Government of the day.Neither have any contribution how the other is set.” Yeah they do – greedy landlords hammer the council budget via Housing Benefit, get it? Same landlords or not, it makes no difference, it’s an issue that people are ignoring hugely to everyone except greedy buy-to-let landlords. My one refuses to do repairs (like, hole in roof, rotting windows, kitchen significantly broken, lock dodgy, plumbing issues, heating minor issues but he wilfully ignored them for some waffle about a repair that didn’t need doing at all! He is doing criminally less than the minimum required to be a legal, not illegal, landlord. He is a wilful criminal as being that ignorant of the law is not possible whilst being in such a position.
    Yet he knows exactly what the maximum housing benefit rate is for the properties in the area. Not what is a fair or appropriate rent, but the maximum.
    Yet he says (what delusion or weak need to self-comfort) “we’re not greedy”. Really? What does greedy look like, then? They drive nice cars, which are not necessary.
    I’m not a jealous person, I think if one manages one’s business at least halfway competently one has a general right to exploit and profit up to a point. It’s when people suffer massively and widely that resistance has to be considered.
    So, WHO and what culture and politics is driving the need for huge taxes on business?
    I’m at the point where I’d negotiate with the landlord of a vacant business property to say “I will pay you zero rent, until I make any money, but will cover any costs incrued as a result of me being in the property. This way I get a leg-up at zero cost to you who is not making anything out of your property right now. Then, and under strict, not scam, conditions, if and when I turn a profit enough to pay a market rent, and if there is demand for the space to market levels, I will pay you a market rent. If there is not demand, I will pay you less – i.e. an accurate market rent, not a “we think it’s worth £x per month”, but currently no-one wants to move-in so actually this is a lie because effectively it’s worth zero rent income according to the market”.
    Scale the rent with the income, isn’t that how markets are supposed to vaguely work?

  3. What they pay in rent is staggering so it’s not surprising that stores are closing.Yet there is little sympathy from Councils who are prepared to see them go under.Makes you wonder how they make a profit after wages advertising and rates!


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