HMV is making a surprising comeback after previously falling into administration, with new stores planned.
The 90-year-old music and entertainment retailer, once a familiar sight on most high streets, has seen several closures over the years as customers switch to streaming.
It went into administration in 2013, when 100 stores shut down, but was later saved, before collapsing once again in 2018, leading to more closures.
The brand was salvaged again and moved its main focus away from DVDs and CDs to vinyl, pop culture merchandise, tech accessories and live in-store performances.
It has since seen a steady recovery, with a massive flagship store opening in Birmingham in 2019 – one of the largest entertainment stores in Europe.
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There have also been recent openings in Solihull, Canterbury and Belfast.
Now Retail Week has reported HMV is set to open in Peterborough, in Cambridgeshire, Cork in Ireland and the Hague in the Netherlands.
Both the Peterborough and Cork stores are due to open before the end of the year, with the Peterborough branch located in the Queensgate Shopping Centre and the Cork store in Merchants Quay Shopping Centre.
The latter will be the third Irish branch, as the firm aims to ‘strengthen its position in the Irish market’.
The Hague outlet is in the final stages of development and will be HMV’s first ever shop in the Netherlands.
In addition to Ireland, the retailer has one other EU store, in Belgium.
HMV managing director Phil Halliday said: ‘We’re constantly striving to create new homes for communities of fans to come together and share their love of music and popular culture.
‘That’s why we’re so thrilled that, after five years of working on a deal, we’re finally able to open a new store in Peterborough and meet the strong public demand.
‘We are also set to open our first store in The Netherlands and a third store in Ireland before the end of the year, in The Hague and Cork respectively.’
Mr Halliday said HMV plans to continue focusing on opening more stores in Ireland and across mainland Europe as its main targets for expansion’where it currently makes more sense to do so from a business point of view’.
After the retailer went into administration in 2013 it was rescued by restructuring firm Hilco, which reopened several sites.
When the brand collapsed again in 2018, Canadian music retailer Sunrise Records took over and around 100 stores were saved and the majority of jobs.
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