SWEET MUSIC
HMV is reopening its iconic flagship store TODAY four years after going into administration
The shop will stock more than 20,000 vinyl albums and CDs
HMV is reopening its iconic flagship store today - four years after it fell into administration.
The entertainment chain is hosting a raft of bands such as Madness as it welcomes customers to the shop it first opened in 1921.
6
6
6
HMV shut the store in 2019 after the retail chain tumbled into administration and was forced to axe stores and jobs.
The retailer was rescued from insolvency by Canadian Doug Putman’s Sunrise Records business.
The site, at 363 Oxford Street, had been operating as an American sweet shop following its closure.
However, in April, HMV confirmed it had sealed a deal with the landlord to return to the site.
READ MORE IN MONEY
Mr Putman said he hopes the shop can have “crowds which will shut down the street” again, harking back to memorable visits including Michael Jackson, the Spice Girls and Sir Paul McCartney.
The entrepreneur, who recently attempted to buy fellow high street chain Wilko from collapse, said chain has returned after striking a better deal with the shop’s landlord.
“It is a pretty great moment for us, coming back here after four years away,” he said.
“When we bought the business, we couldn’t keep the site because the rates bill and rent just didn’t make any financial sense.
Most read in Money
“Getting another location in London was an immediate priority and as it became more obvious that the rent and rate situation here had improved and the landlord was open to discussions, we just felt it would be the right move to come back to somewhere with such history to us.”
HMV said the shop will become the largest entertainment store in London and is expected to draw appearances and signings by renowned musicians to its “purpose-built performance floor”.
It will stock more than 4,000 popular culture merchandise lines, some 20,000 vinyl albums and CDs, in excess of 8,000 4kUHD, Blu-rays and DVDs, as well as music technology products.
The opening follows a significant turnaround under Mr Putman’s ownership, which has seen it return to profitability amid increased focus on vinyl, live gigs and merchandise.
HMV stands for His Master’s Voice, the title of a painting of dog Nipper listening to a gramophone, which is the company’s logo.
The Oxford Street shop, its first in Britain, has carved a place in music history since opening in 1921.
Manager Brian Epstein made a demo tape of The Beatles in its recording studio, landing the Fab Four their first record deal.
In 1995, Blur played a rooftop gig to launch their Great Escape album as helicopters circled.
A year on, 6,000 people watched the Spice Girls turn Christmas Lights on at the landmark shop.
6
6
6
You can also join our new Sun Money to share stories and tips and engage with the consumer team and other group members.
Topics