High street giant closes down stores in 2 major UK cities

Popular high street store JD Sports will close two of its 'Hip' stores for good this week. The brand acquired 'Hip' back in 2014, with just two shops in Manchester and Leeds. It closed for good on June 28, with the Leeds site expected to follow suit by the end of the month, according to Drapers.

The Leeds store is located on the Yorkshire city’s Vicar Lane, while the Manchester shop sits on Thomas Street. Despite its departure from the high street, Hip is set to continue to trade online via its website. It follows JD Sports being forced to close 24 UK stores earlier this year due to financial uncertainty. JD Sports operates over 4,000 stores worldwide and recently reported a drop in annual earnings.

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The brand explained that it had concerns about tensions in the Middle East potentially leading to higher costs and decreased customer interest. However, it said that there had been no "direct exposure" – just "heightened uncertainty".

The business shared plans to cut down on brick-and-mortar sites in order to have "fewer, bigger and better" shops.

Speaking to Manchester Evening News in May, JD said: "Over time, the potential future impacts of heightened uncertainty may contribute to direct cost pressures, including energy and fuel costs across our store and logistics networks, respectively, as well as potential indirect impacts on pricing and consumer demand should input cost inflation emerge.