HMV ‘hopes to return’ to Lancaster high street

The former HMV store in Lancaster
The former HMV store in Lancaster

A national music shop chain has signalled it could be returning to Lancaster city centre if it gets “the right property deal”.

HMV, which was based in Market Gate Shopping Centre, fronting onto Market Square, closed in March 2013, after the company went into administration in January of the same year.

It was bought by restructuring expert Hilco, which also owns HMV Canada, and 141 stores across the country were saved.

Now HMV has said that Lancaster is on a list of towns it would like to trade in.

A spokeswoman for the company said: “As a historic town renowned for its arts scene, Lancaster is on our list of towns we’d like to trade in.

“HMV previously traded on Lancaster high street for over fifteen years.

“We hope to return to the town, offering Lancastrians the very best range of entertainment products.

“However, is is important that we find the right property deal to make the move viable.”

The former HMV store is currently vacant, after first Morrisons, and then MyLocal, closed down.

The only other music shop in Lancaster city centre is That’s Entertainment, offering cut price CDs, in St Nicholas Arcade.

At its peak, HMV had more than 400 shops around the world, more than half of them in the UK.

It had a 35 per cent share of Britain’s CD market in 2012.

The company lost £16.2m in the financial year to the end of April 2012, despite collecting sales of £923m.