Plans include in-store performances, better stock and an increase in Fopp stores nationwide

Hilco chief executive and HMV chairman Paul McGowan has explained how he plans to improve the flagging retailer following the administrator’s £50m takeover earlier this year.

In a blog for NME, McGowan outlines five major ways in which HMV will improve, singling out the quality of the stock in store, instore performances, HMV’s online presence, representing local scenes and trends as well as an increase in the number of Fopp stores around the UK. Click hereto read the blog post in full.

Discussing the changes to Fopp, McGowan says: “We’ve been examining what’s going on the independent record store market and learned some good practice there, which we can act on via Fopp. It’s quite a different brand from HMV and we’re looking to expand the number of Fopp stores.” Meanwhile, the instore performances are set to be boosted by a major name later this month, he says. “Around October 18, we’ll be announcing one of the biggest names in the world as playing a gig at our newly-reopened flagship store at 363 Oxford Street in London.”

HMV recently returned to its flagship shop last weekend (September 28). HMV first opened at the site in 1921 and remained in the property until 2000 before relocating. The store was where The Beatles cut the demo disc that led to them meeting George Martin and signing their recording contract with EMI in 1961.

HMV collapsed into administration in January with £176 million of debt. It now operates 140 stores nationwide.