HMV

Origins and Early History

The origins of HMV trace back to a famous painting. In 1898, artist Francis Barraud painted His Master's Voice, depicting his dog Nipper listening to a phonograph. The Gramophone Company purchased the painting and trademark rights in 1899, using the image on its sound equipment and, from 1909, as its own record label. The first dedicated HMV shop opened at 363 Oxford Street, London, in 1921, in a former clothing store, with composer Edward Elgar participating in the opening ceremony. The Gramophone Company merged with Columbia Graphophone Company in March 1931 to form Electric and Musical Industries Ltd (EMI). The original Oxford Street shop was severely damaged by fire in 1937 but was rebuilt and reopened on 8 May 1939, with Sir Thomas Beecham presiding over the ceremony. This location would become the company's flagship for many decades, though it would change addresses and face multiple closures over the next century.

Expansion and Growth as a Retail Giant

HMV began expanding its retail operations in London during the 1960s. Throughout the 1970s, the company continued to expand, doubling in size and within six years became the United Kingdom's leading specialist music retailer. It faced strong competition from Virgin Megastores, established in 1976, and from Our Price, established in 1972. HMV eventually overtook Our Price in popularity by establishing a chain of newer, larger shops. A major milestone came in 1986 with the opening of a new flagship at 150 to 154 Oxford Street, announced as the largest record shop in the world at the time, with the official opening attended by Bob Geldof and Michael Hutchence. Growth continued for a third decade into the 1990s, with the chain reaching over 320 shops. This expansion included its first United States shop in New York City in 1990, located at 86th and Lexington, which was the largest music shop in North America at the time. The company celebrated its 75th anniversary in 1996 and opened its 100th UK shop in 1997.

Corporate Restructuring and the HMV Group

In February 1998, EMI entered into a joint venture with Advent International to form HMV Media Group, led by Alan Giles, which acquired HMV's shops and the Dillons book chain, leaving EMI with a holding of around 45 percent. The new joint venture then bought the Waterstones chain of bookshops to merge with Dillons. By 2002, EMI's holding in HMV Media was 43 percent, with Advent International owning 40 percent and management the remainder. The company floated on the London Stock Exchange later that year as HMV Group plc, leaving EMI with only a token holding. The group launched a loyalty scheme branded as purehmv in August 2003, which awarded points for purchases redeemable for vouchers and merchandise, though it was later closed and relaunched in 2008. The group became susceptible to a takeover following poor trading up to Christmas 2005, with private equity firm Permira making a £762 million conditional bid in February 2006 that was rejected as insufficient. Permira made a second increased offer which HMV also declined on 13 March 2006, stating it undervalued the company's medium and long term prospects, leading Permira to withdraw.

Acquisitions and Diversification

The HMV Group pursued several acquisitions to fuel growth and diversify its business. In 2006, the group purchased the Ottakar's book chain and merged it into Waterstones, a move provisionally cleared by the Competition Commission that March. All 130 Ottakar's shops were rebranded as Waterstones prior to Christmas 2006. On 31 July 2007, HMV bought the brand and six shops of the collapsed entertainment retailer Fopp, saving around 70 jobs. On 1 September 2008, HMV launched Get Closer, a social networking site allowing users to import their music library, though it was closed in September 2009. Following the administration of rival Zavvi in December 2008, HMV acquired 14 of its shops in January 2009 and five additional shops in February 2009, which were rebranded as HMV outlets. In January 2009, HMV bought a 50 percent stake in MAMA Group, forming a joint venture called the Mean Fiddler Group, introducing the HMV brand to live music venues like the Hammersmith Apollo. It bought the whole of MAMA Group in December 2009 for £46 million. That same year, HMV bought 50 percent of digital music provider 7digital for £7.7 million and established a joint venture with Curzon Cinemas to trial cinemas in HMV shops, with the first opening above the HMV shop in Wimbledon.

Key acquisitions and ventures under HMV Group included the purchase of the Ottakar's book chain in 2006, which was merged into Waterstones. In 2007, HMV bought the brand and six shops of the rival retailer Fopp. In January 2009, HMV bought a 50 percent stake in MAMA Group, forming a joint venture called the Mean Fiddler Group, and later that year bought the entire MAMA Group. Also in 2009, HMV bought a 50 percent stake in 7digital and established a joint venture with Curzon Cinemas to bring cinemas to some shops.

• 2006: Purchase and merger of the 130-shop Ottakar's book chain into Waterstones.
• 2007: Acquisition of the Fopp brand and six shops after Fopp entered administration.
• 2008: Launch and subsequent closure of the Get Closer social networking site.
• 2009: Purchase of 19 shops from the failed rival Zavvi.
• 2009: Purchase of a 50% stake, then full ownership, of MAMA Group for live music venues.
• 2009: Purchase of a 50% stake in 7digital to bolster digital content.
• 2009: Joint venture with Curzon Cinemas to open trial cinemas in HMV shops.

Financial Decline and First Administration

By January 2011, HMV announced that profits would be at the lower end of forecasts due to falling sales, resulting in a 20 percent share price fall and a plan to close 40 HMV shops and 20 Waterstones bookshops. The sale of Waterstones to A&NN Capital Fund Management for £53 million was completed on 29 June 2011. HMV sold the Hammersmith Apollo in May 2012 for £32 million and sold the remainder of MAMA Group in December 2012 for £7.3 million. On 15 January 2013, HMV Group appointed Deloitte as administrators, suspending shares and putting 4,350 UK employees at risk. Gift vouchers were initially declared void but were accepted again from 22 January 2013. Restructuring firm Hilco UK bought HMV's debt from creditors The Royal Bank of Scotland and Lloyds Banking Group, amounting to around £110 million, and it was revealed HMV owed around £20 million in tax to HM Revenue and Customs at the time of administration. Deloitte confirmed the closure of 66 shops in February 2013, with an additional 37 shops announced for closure later that month, and 190 redundancies made at head office and distribution centres. On 28 February 2013, eight shops in Hong Kong and Singapore were sold to AID Partners Capital Limited, which gained the rights to use the HMV brand in Hong Kong, Macau, China, Taiwan and Singapore.

Hilco Ownership and Turnaround

On 5 April 2013, Hilco UK announced it had acquired HMV for an estimated £50 million, taking the company out of administration and saving 141 shops and around 2,500 jobs, including 25 shops previously selected for closure and all nine Fopp shops. Following the purchase, Hilco sought to reduce shop staff to save £7.8 million on wages, with shops losing security staff, cashiers and supervisors. HMV launched a music download service in October 2013, provided by 7digital, and moved its flagship Oxford Street shop back to the original site at 363 Oxford Street on 23 October 2013. The former flagship at 150 to 154 Oxford Street closed on 14 January 2014. By 2014, HMV had gained the second highest share of the UK entertainment market, behind Amazon, and filed a profit of £17 million for the 11 months since administration. In January 2015, HMV overtook Amazon to become the largest retailer of physical music in the UK. The company relaunched its online shop in June 2015, providing CDs, DVDs, Blu-ray Discs, and LP records for order. However, some shops in York, Solihull, Portsmouth and Belfast closed during this period. Despite this recovery, the company entered administration for a second time on 28 December 2018, with Hilco citing a tsunami of retail competition.

Sunrise Records Acquisition and Strategic Revival

On 5 February 2019, Canadian record shop chain Sunrise Records announced its acquisition of HMV Retail Ltd. from Hilco UK for an undisclosed amount, later reported by the Financial Times to be valued at £883,000. The deal safeguarded around 1,500 jobs but resulted in the immediate closure of 27 locations, including the flagship Oxford Street branch, affecting 455 staff. Sunrise, which had previously acquired the leases for over 70 HMV locations in Canada after HMV Canada entered receivership, planned to maintain the HMV and Fopp banners. Company founder Doug Putman stated he would increase emphasis on vinyl phonograph sales, noting Sunrise had sold at least 500,000 vinyl LPs in Canada in 2017 alone. Following negotiations with landlords, HMV reopened 13 of its shops by late-February 2019. In October 2019, the new owners opened the HMV Vault on Dale End, Birmingham, billed as Europe's biggest entertainment shop. The COVID-19 pandemic forced closures from March to June 2020 and again in late 2020 and early 2021. During the 2020s, HMV opened new and relocated shops, often in premises vacated by other retail chains like Arcadia Group. In March 2021, The Empire music venue in Coventry announced it would rename itself the HMV Empire as part of a sponsorship deal. In July 2021, HMV celebrated its 100th birthday by releasing 37 limited edition vinyl albums and a 100-track CD compilation called Now That's What I Call HMV. The company began a rebrand using the motto The HMV Shop in October 2021.

International Operations and Recent Developments

HMV's international footprint has evolved significantly under Sunrise Records' ownership, with re entries into previous markets and expansion into new territories. In April 2023, it was confirmed HMV would reopen a new format shop at its original 363 Oxford Street home after four years away, during which the premises had been occupied by American candy outlets. On 18 May 2023, Sunrise Records announced HMV would re enter the Irish market with a shop on Dublin's Henry Street, in a unit previously occupied by the company during their first incarnation, which opened on 30 June 2023. In November 2023, an expansion into Belgium was announced, with a second Belgian location confirmed in March 2024. A return to Canada was announced in February 2024, where HMV would re enter as a store within a store concept inside Toys R Us locations. In October 2025, Sunrise announced plans for HMV to open in the Netherlands. The flagship Oxford Street location at number 363, which had reopened in 2023, faced another challenge when, on 12 October 2026, it was announced the shop would close in March 2027 due to a doubling of rental costs, with the company actively looking for a new flagship store site in London and Chinese variety retailer MINISO set to take its place.

Recent international operations under Sunrise include the announcement in May 2023 that HMV would return to Ireland. In November 2023, it was announced HMV would enter the Belgian market. In February 2024, Sunrise Records announced HMV would re-enter the Canadian market as a store within a store in Toys "R" Us locations. In October 2025, Sunrise Records announced that HMV would open in the Netherlands.

• Ireland: Return announced May 2023. Shop opened on Henry Street, Dublin, in June 2023.
• Belgium: Expansion announced November 2023. Second location confirmed March 2024.
• Canada: Return announced February 2024 as a store within Toys R Us locations.
• Netherlands: Entry announced October 2025.
• United Kingdom: Flagship Oxford Street store announced to close March 2027. New London flagship site sought.

HMV in Canada

HMV has a distinct history in the Canadian market. Its presence began in 1986 when EMI Music Canada purchased the Mister Sound chain. EMI then attempted to rebrand the sites as His Master's Voice shops but were not granted the rights from RCA, which owned the rights to the His Master's Voice and Nipper trademarks in the United States and Canada. The chain nonetheless operated successfully for decades, becoming a major music retailer. HMV Canada eventually entered receivership, and in 2017, Sunrise Records acquired the leases for over 70 HMV locations across Canada. This acquisition transformed the Ontario based Sunrise into a national chain. Under Sunrise, the Canadian shops leveraged the vinyl revival to improve performance, with Doug Putman arguing that talk about the demise of the physical business was sometimes exaggerated, especially in music specialists. In February 2024, Sunrise Records announced that the HMV brand would return to the Canadian market through a store within a store concept inside select Toys R Us locations, marking a new chapter for the brand in Canada after a seven year absence under its own banner.

Business Strategy and Market Position

HMV's business strategy has pivoted significantly under Sunrise Records' ownership, focusing on the niche market for physical media. Doug Putman has consistently argued that the decline of physical sales is overstated in music specialist retailers, attributing most losses to non traditional sellers like grocery chains. The core of the turnaround plan has been a heightened emphasis on vinyl record sales, capitalizing on the global vinyl revival. The company has also expanded its product range in large format stores like the HMV Vault, which stocks tens of thousands of CDs, vinyl records, and related merchandise. HMV maintains an online presence for music downloads and physical media sales, though its brick and mortar shops remain central to its identity. The company continues to explore new shop formats and locations, often moving into premises vacated by other retail chains. In July 2024, managing director Phil Halliday noted an increase in customers buying physical media formats of films and television shows on DVD and Blu ray. Despite the planned closure of its Oxford Street flagship in 2027, HMV's strategy involves seeking new flagship locations and expanding its international footprint in Europe, with Retail Week reporting in 2026 that the group was looking at further territories in the UK and Europe as it ramps up its international offer.

Questions about HMV

Who owns HMV now?

The HMV brand is owned by Hilco Capital, a restructuring firm. Since February 2019, the retail operations of HMV in the United Kingdom, Ireland, Belgium, and Canada have been managed by the Canadian company Sunrise Records. In Japan, the HMV brand is owned and operated separately by Lawson. Sunrise Records acquired HMV Retail Ltd. from Hilco UK in 2019, saving approximately 1,500 jobs and over 100 shops. Hilco had originally purchased HMV out of its first administration in April 2013 for an estimated £50 million.

Is HMV coming back to Canada?

Yes, HMV is returning to the Canadian market. In February 2024, Sunrise Records announced that HMV would re enter Canada as a store within a store concept inside Toys R Us locations. This follows the earlier collapse of HMV Canada in 2017, when Sunrise Records acquired the leases for over 70 HMV locations across the country and rebranded them under its own name. The initial Canadian presence began in 1986 when EMI Music Canada purchased the Mister Sound chain, though it could not use the full His Master's Voice name due to trademark issues.

What happened to the HMV on Oxford Street?

HMV's flagship store at 363 Oxford Street in London has a long and cyclical history. It first opened in 1921, was rebuilt after a fire in 1939, and moved to a larger location at 150 to 154 Oxford Street in 1986. In 2013, Hilco moved the flagship back to 363 Oxford Street. That shop closed in 2019 during the second administration but reopened in 2023 after the premises had been occupied by temporary candy outlets. In October 2026, it was announced that this flagship would close again in March 2027 due to a doubling of rental costs, with the company seeking a new flagship location in London and Chinese retailer MINISO set to take its place.

Why did HMV go out of business?

HMV faced severe financial difficulties primarily due to the rapid rise of digital music streaming and online retail, which drastically reduced sales of physical CDs and DVDs. The company entered administration twice, first in January 2013 and again in December 2018. Intense competition from online giants like Amazon, coupled with high retail rents and changing consumer habits, eroded its traditional business model. Hilco UK cited a tsunami of retail competition as the reason for the 2018 administration. It was rescued first by Hilco Capital in 2013 and then by Sunrise Records in 2019, which refocused the chain on vinyl records and physical media.

Does HMV still sell vinyl records?

Yes, the sale of vinyl records is a central part of HMV's current business strategy under Sunrise Records. Owner Doug Putman has emphasized the vinyl revival as key to the chain's turnaround, noting that Sunrise's Canadian shops sold over 500,000 vinyl LPs in 2017 alone. HMV shops, including the large HMV Vault in Birmingham, stock a wide range of new and exclusive vinyl releases, and the company promotes events like Vinyl Week to engage the physical media community. The company released 37 limited edition vinyl albums to celebrate its 100th birthday in 2021.

What is the HMV Vault?

The HMV Vault is a massive entertainment store opened by the new owners in Birmingham in October 2019. It is billed as Europe's biggest entertainment shop, stocking tens of thousands of CDs, vinyl records, DVDs, Blu ray discs, and related merchandise. The Vault represents HMV's modern strategy of creating large format destination stores that cater to dedicated fans of physical media, offering an extensive selection that goes beyond what is available in standard high street shops. It is located on Dale End in Birmingham and operates under the HMV brand.

Sources and further reading

• HMV (Wikipedia)
• Sunrise Records buys music store chain HMV (cbc.ca)
• HMV has been bought by Canadian record store chain ... (djmag.com)

Checked by the Yadude Books desk. Last updated 2026-10-30.