Major retailer with 500 stores is closing another branch today in blow for UK high street

Sports Direct is closing one of its stores today in another blow for the UK . The retailer is pulling down the shutters on its Newmarket Road store in Cambridge for the final time.

The store has been holding a closing down sale, according to one shopper who posted on : “Sports Direct on Newmarket Rd is closing down, 18/04. Lots of bargains in store.” In reply to this, one shopper said: “Another nail in the coffin for concrete Cambridge.” Another said: “Losing all our stores.”

This isn’t the only store that has disappeared from the high street in recent months. The retailer closed its Silverburn branch in Glasgow earlier this month, while its Central Six Retail Park branch in Coventry was shuttered in January 2024.

Sports Direct - which is part of Frasers Group and sells sports and fitness footwear, clothing and equipment - also axed its Stroud store in Gloucestershire and its Octagon Parade site in High Wycombe in March 2024. Sports Direct was founded in 1982 by Mike Ashley who launched the brand as a single store in Maidenhead.

The billionaire businessman stepped down from the board of Frasers Group in 2022, having already handed over the reins to his son-in-law, Michael Murray, earlier that year. There are more than 500 Sports Direct stores in the UK.

It comes as Sports Direct announced it will open 100 stores in and New Zealand for the first time after Frasers Group confirmed a new 25-year partnership with wholesaler Accent Group.

In a stock market statement on Tuesday, Michael Murray, chief executive of Frasers Group, said: "Since acquiring a strategic shareholding in Accent, we have developed a robust partnership between Frasers and Accent. Accent has an impressive, well-established platform with various sneaker concepts and a strong distribution of brands.

"We're looking forward to expanding our partnership to launch Sports Direct in Australia and New Zealand, working towards our bold plan of opening 100 stores. This reaffirms our commitment to drive growth of the Sports Direct brand internationally and marks a significant step forward in our ambition to becoming the leading global sporting goods retailer."

Daniel Agostinelli, chief executive of Accent Group, added: "After extensive discussions, we are very pleased to announce a long-term strategic relationship with Frasers to open Sports Direct in Australia and New Zealand.

"Sports Direct is one of the leading sporting goods retailing businesses globally. Frasers and Accent see a significant opportunity to bring a new and exciting global sports business to the Australian and New Zealand markets." Frasers Group has also unveiled plans to open 350 stores across India, the Philippines, Thailand, Vietnam and Cambodia.

Frasers Group CEO Michael Murray stated: “We’re excited to announce further expansion of our successful partnership with MAP Active to five dynamic new markets where we see potential for long-term growth. Building on Sports Direct’s proven sports retail proposition and MAP Active’s market expertise, we look forward to growing our footprint and offering best-in-class brands to consumers in the region.”

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