|The HMV logo featuring Nipper and the gramophone|
|HMV store in Coventry in December 2018|
|Founded||20 July 1921, London|
|Headquarters||Birmingham , United Kingdom|
|Number of locations||113 stores (as of 21 May 2019)|
Music retailer HMV has confirmed three of its stores will shut at the end of the month, with new tenants already lined up to move into the properties. The company has warned of job losses and the closure of up to 10 stores by the end of this month unless it is able to secure new deals with its landlords.
HMV confirmed customers will still be able to order products from its website while shops are shut. The retailer said: “We’re very sad to have to let you know we’ll be temporarily closing our stores for trade from the end of the day today, Sunday March 22.” HMV hasn’t said when it expects stores to reopen.
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 .
The top 10 competitors in HMV’s competitive set are SoundCloud , Bandcamp , Beatport , 8tracks, Pandora Media, TuneIn, StarClinch, TIDAL, DistroKid, Live365. Together they have raised over 14.4B between their estimated 10.9K employees. HMV’s revenue is the ranked 14th among it’s top 10 competitors.
What other Debenhams stores have been confirmed for closure? Altrincham. Ashford. Birmingham Fort. Canterbury. Chatham. Eastbourne. Folkestone. Great Yarmouth.
In a statement, HMV said the stores were no longer viable due to “extortionate” business rates in certain locations. The announcement came as the department store chain Debenhams said it was due to close 19 of its stores between 11 and 25 January, with a further 28 reportedly set to close in 2021.
His Master’s Voice
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hmv is a leading specialist retailer of music, film, games and technology products, with over 120 stores around the UK, offering a wide selection of new release and catalogue titles.
HMV has confirmed the closure of its flagship HMV Oxford Street store and 26 other branches (see below), following the rescue of the music chain by Sunrise Records. The 363 Oxford Street branch has been shut with immediate effect, along with stores in Bluewater, Westfield, Manchester Trafford, Reading and Wimbledon.
The vinyl revival is in full swing and we estimate that an incredible 1.5 million LPs will be sold in hmv stores in 2016, the biggest since 1997. Here are hmv’s current best- selling LPs , demonstrating the varied flavour of the nation’s vinyl appetite