The shop first opened its doors in 1979

Scottish record store One Up is set to close.

The shop, in Aberdeen, opened in 1979. The Line Of Best Fit reports that the store announced that it was experiencing financial decline in October of last year.

The shop will open its doors for the last time on January 31.

Its owners released a statement announcing the news. It read:

It is with deep regret that we have to announce a closing down sale. As you are all aware, recent trading has been very difficult. We cannot express just how much we have appreciated all the support our loyal customers have given over the years. And we would like to thank all of our past and present staff for their amazing effort who made One Up what it was, we could not have done it without you.

The closing of the store follows news that high street music retailer HMV has gone into administration.

Earlier today (January 16) HMV responded to consumer anger over its decision not to honour gift vouchers any more. Millions of pounds of gift vouchers for the collapsed music and entertainment retailer – many of which will have been given as Christmas presents – have been declared worthless.

A spokesperson from HMV told NME: “We of course understand the strength of feeling on this matter and are very sorry, but we hope that customers will understand that we are currently in administration and therefore not in a position to accept gift cards and vouchers.”

HMV.COM has now taken its website offline. A message on the site reads: “The website HMV.COM has been suspended following the appointment of the Joint Administrators. No purchases can be made online until further notice.”