Music retailer HMV is set to reopen the doors to its flagship store on Oxford Street, London, after a four-year absence.
The retailer had been at the store for nearly 100 years before falling into administration in 2019, before being rescued by Sunrise Records.
The store has since been operating as an American candy shop, however, HMV has now signed a deal to replace the current occupants, whose lease runs out in six months.
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“The expansion of our fan-focused pop culture offer is really working for us and the reopening of our flagship represents the culmination of a good few years of hard work,” HMV boss Doug Putman said.
“We are also opening stores in Europe this year, so while it is the culmination of one phase of work, more excitingly we see it as the launch pad for an exciting new era for HMV.”
Westminster City Council, Cllr Geoff Barraclough, added: “It’s fantastic to see this iconic brand back on Oxford Street, where it stood as a driver of music and pop culture in the capital for so long. It’s also particularly pleasing it is replacing one of the many US candy stores which sprang up during the pandemic.
“The return of this famous name is proof that there is a buzz back in the West End. Established retailers want a presence on the UK’s premier shopping street and as a council, we want to see the nation’s high street reinvigorated and home to brands like HMV.”
The return of the flagship was a sign of a “dramatic turnaround” in profits, which the company posted last year.
For the year ended 30 May 2022, Sunrise Records posted a rise in pre-tax profits to £1.97 million, compared with a £243,000 loss a year prior.
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