Iconic Northern quarter independent shop Oi Polloi is set to close. Owners of the store, retail giant JD Sports, are planning a rebrand for the premises.
The Bury-headquartered sportswear giant has owned the company since May 2021.
Oi Polloi was founded by Steve Sanderson and Nigel Lawson and sells a menswear range from brands such as Polo Ralph Lauren, Keen and Patagonia.
READ MORE: Click here to sign up to the BusinessLive North West newsletter
But the Manchester Evening News understands that the founders are currently in talks with JD Sports over the future of the Oi Polloi brand. It has not been announced which of JD Sports' brands will take over the shop.
The retail giant declined to comment when approached by the MEN. The news comes after JD Sports completed the sale of 14 of its brands to Mike Ashley's Frasers Group in a deal worth almost £50m.
The owner of House of Fraser and Sports Direct has now snapped up JD Sports' interests in Base Childrenswear, Choice, Clothingsites (including Brown Bag Clothing), Cricket, Giulio, Kids Cavern, Missy Empire, Nicholas Deakins, Pretty Green, Prevu Studio, Tessuti (including Xile), Scotts and Watch Shop as well as Topgrade Sportswear - including Get The Label.
Last month it set out its vision to become the world's "leading global sports-fashion powerhouse".
In an update to the London Stock Exchange, JD Sports said it is aiming to put its JD brand first, focus on "complementary concepts" and "people, partners and communities" as well as look "beyond" physical retail.
The plan also includes double digit revenue growth, market share in "key regions" and operating margin.
JD Sports is also targeting capital expenditure of between £500m and £600m every year with 50% to 60% focused on store expansion in "underpenetrated markets" with 250 to 350 new JD stores per year.
It also wants to generate £1bn every year in cash from its operating activities.
READ NEXT:
