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HMV to close three stores and warns of more if rent negotiations fail

HMV has confirmed that three of its stores will close this month and has warned that a further 10 could close if rent negotiations with landlords fail to secure improved terms.

In a statement released over the weekend the music retailer revealed it will be closing its Bury St Edmunds, Fopp Glasgow on Byres Road and Nuneaton stores are they were deemed to no longer be viable due to “extortionate” business rates.

The music retailer added that 10 additional stores undergoing rent negotiations could also close with potential job losses.The affected stores are currently holding “everything must go” sales with closing down signs visible.

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The 10 stores are: Birmingham Bullring, Cribbs in Bristol, Edinburgh’s Ocean Terminal, Glasgow Braehead, Grimsby, Leeds, Merryhill near Dudley, Reading, Sheffield’s Meadowhall mall and Worcester.

A spokesperson for HMV told the Guardian: “There are currently 10 stores where negotiations with landlords are ongoing and we are hopeful of securing new deals.

“The closures are no reflection on our superb staff and where we are not able to come to a new agreement or relocate staff within the business elsewhere, unfortunately this does mean some of our staff will lose their jobs.”

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