The HMV store in Truro could be spared while hundreds of jobs are lost around the country.
Administrators brought in to manage the retail giant announced closures of 66 stores nationwide – but Truro was not on the list.
The Lemon Quay store in Truro, selling music, games and videos, is one of the biggest shops in the city.
HMV currently operates from 220 stores in the UK and the 66 affected stores employ 930 staff.
Nick Edwards, joint administrator, said the closures would be carried out "to enhance the prospects of securing the business' future as a going concern."
He said: "We continue to receive strong support from staff and are extremely grateful to them for their commitment during an understandably difficult period.
"All other key stakeholders remain very supportive and I continue to be hopeful of securing a future for the restructured business."