HMV has announced that its flagship store on Oxford Street will be one of 27 unprofitable stores to be shut with immediate effect.
The news comes as the entertainment retailer was saved from administration from Canadian firm Sunrise Records.
The flagship store opened in 1921, and was HMV’s first ever store. The retailer has maintained a presence on Oxford Street ever since, aside from two years between 1937 and 1939, when the building was closed due to fire damage.
Although the takeover rescued around 1500 jobs and 100 stores, the closure of the 27 underperforming stores will see the redundancies of 455 employees.
