HMV confirms first batch of stores to re-open

HMV confirms first batch of stores to re-open

Days after HMV’s new owner Doug Putman told Music Week the retailer was working to re-open some stores that were initially closed as part of the acquisition deal, several branches are now trading again.

When the rescue plan was announced by administrator KPMG, 100 stores remained open but 27 unprofitable branches were closed.

HMV has now re-opened the following branches: Fopp Byres Road, Glasgow, HMV Bath, HMV Bluewater and HMV Braehead, Glasgow. Other stores could also re-open in the days ahead.

“We remain hopeful that more stores will follow, but this very much depends on the outcome of on-going negotiations with landlords at a number of locations across the country,” an HMV spokesman told Music Week.

Putman said they would renegotiate with landlords to try and get shuttered stores trading again, though the flagship Oxford Street branch’s annual losses make it unlikely to return.

“We’re certainly working with the landlords, obviously we did have some store closures but interestingly enough some of those landlords in the places we closed may be able to make a deal,” said Putman before the latest developments. “We’re hopeful that we can make it less than that [27] and go out for new opportunities.”

Putman has expanded Sunrise Records in Canada since acquiring HMV over there two years ago. He now has ambitions to build up HMV in the UK.

“We’re always looking at new areas to open up in and we are not in non-growth mode,” said Putman. “If there’s a great up-and-coming area, let’s make sure we’re a part of that.”

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