HMV’s Oxford Street flagship to become a Sports Direct

Bob Geldof opened the HMV at 150 Oxford Street in 1984 and it remains the biggest music store in the world.
Sports Direct is understood to have paid up to £5m to take on the lease to the 60,000 sq ft store after The Telegraph revealed in May that the retailer was eyeing the site.
Sports Direct was founded by Mike Ashley, the owner of Newcastle United, and already controls the famous Lilywhites sports shop at Piccadilly Circus.
HMV is looking to move into a smaller flagship store on Oxford Street after it collapsed into administration earlier this year.
The entertainment retailer, which is owned by Hilco, has agreed to move to 363 Oxford Street.

The store, which at present is occupied by Footlocker, is HMV’s original store.
363 Oxford Street, which is roughly a third of the size of HMV’s existing flagship store, was opened in July 1921 by Sir Edward Elgar and Francis Barraud, the artist who painted the famous His Master’s Voice, which became the retailer’s logo. There is plaque at the store marking the “world’s most famous music store”.
The Oxford Street store became the base for a rapid expansion of HMV and the record label backing the retailer, EMI.
However, HMV collapsed into administration in January following a slump in sales as the 92-year-old entertainment retailer struggled to compete with online rivals and supermarkets.
Three months later though, the company was rescued by Hilco in a £50m deal that protected 2,643 jobs and 141 shops.
Hilco, led by Paul McGowan, said it planned to refocus HMV on selling music and DVDs after it had grown into the technology and tablets market.
Since Hilco acquired HMV it has been reviewing the company’s store portfolio, with property agents CBRE and Savills advising. This has included the Oxford Street store, which Hilco considered was too big given the rise of the internet and the opportunity to offer customers a click-and-collect service in store.


Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

Blog at

Up ↑

%d bloggers like this: