Music retailer HMV has announced that it will be closing some of their stores across the UK.
Closing down signs have appeared in many of its stores, which are also advertising ‘everything must go’ sales.
HMV closing down
The music retailer, which was saved last year after it fell into administration, has stated that the stores are no longer viable due to “extortionate” business rates in specific locations.
However, some HMV stores have been rescued from closure after Sunrise Records, HMV’s owner, managed to renegotiate rent costs.
A HMV spokesperson said, “At this time, talks are ongoing with the landlords involved and are currently progressing in a positive direction.”
The stores saved from closing
These are the HMV locations that have been saved from closure:
- Glasgow Braehead
- Edinburgh Ocean Terminal
- Reading Oracle
- Sheffield Meadowhall
- Birmingham Bullring
HMV will also be relocating its stores in Lincoln and Plymouth, with its new stores opening in the cities at the start of February.
The stores under negotiations
These are the HMV locations whose future is still to be decided:
- Bristol Cribbs
The stores that will be closed down
This is the full list of HMV stores that will be closed down:
- Bury St Edmunds, Arc Shopping Centre
- Nuneaton, Ropewalk Shopping Centre
- Leeds, Headrow
- Bristol, Cribbs Causeway Mall
- Worcester, Crowngate Shopping Centre
- Dudley, Merry Hill Shopping Centre
A turbulent past
HMV has weathered a number of difficulties in staying afloat during its time.
In January 2013, the HMV Group PLC entered administration, with all Irish stores being closed. A week afterwards, Hilco UK bought the debt of HMV, stepping towards taking control of the company.
In April 2013, HMV was bought out of administration by Hilco UK.
On 28 December 2018, HMV announced that the company had again fallen into administration, but on 5 February 2019 was saved after it was acquired by Canadian company Sunrise Records.
Sunrise Records bought the leases for the properties to allow the stores to continue operating.