A BIG name discounter has confirmed one of its sites will be closing in just a few short weeks.
Poundland will be pulling down the shutters on its Colwyn Bay, Wales branch early next year.
The retailer confirmed it has not been able to renew the lease for the store which is located in the Bayview Shopping Centre.
Shoppers will have until just after Christmas to nab bargains before the store closes for good on January 5, 2024.
Locals flocked to Facebook to share their disappointment after hearing the news.
One user said: “Just read that Poundland in the Bay is closing. There won't be anything left soon.”
Read more on store closures
CLOSING TIME
'Another empty shop' moan shoppers as furniture chain to shut site
SHUTTERS DOWN
'Nail in the town's coffin' as major retailer with 500 stores closing branch
Another said: “That is shocking and if it's true about the rent then that doesn't bode well for small businesses in the Bay.”
“If shops keep closing then there is nothing to get people coming into the bay,” argued someone else.
A fourth user said: “Very sad I thought that are doing well.”
The Bay has suffered the loss of a great number of retailers over the past two years, with WH Smith, Argos and Peacocks choosing to leave the area.
Most read in Money
DINNER WINNER
Fast food chain run by Asda owners SOLD to KFC affecting 218 locations
HELPING HAND
Thousands of households to get £125 paid into bank accounts before Christmas
CASH BACK
Martin Lewis warns MILLIONS could be owed money – and explains how to reclaim it
BREW-TIFUL
Starbucks is giving away free drinks to millions of workers for one day only
Last week Boots announced it was also closing two of its Colwyn Bay branchs.
David Jones, who represents Clwyd West in North Wales, said he was "dismayed" that the branches will close in 2024.
He said: "This is not a case of simple shop closures. It is another body blow for the local retail economy.”
"The Colwyn Bay store is an important element of the once-vibrant Station Road shopping centre, which has already seen the closure of several other prominent stores, including WHSmith."
Poundland is set to pull down the shutters on another store at the Chineham Shopping Centre near Basingstoke on December 31.
However, while the brand will be closing some stores, the bargain chain agreed to take 71 former Wilko sites as part of its expanding plan after the rival retailer collapsed into administration in August.
Ex-Wilko sites have now opened up as Poundland in locations such as Newcastle, Leicester and Leeds and more are expected to follow.
Many high street retailers have been struggling to get by over the past few years.
Energy costs have risen and more shoppers than ever are choosing to order online rather than head into stores.
This has left some retailers grappling with budgets and have no choice but to close stores to cut costs.
Homebase closed a store last month leaving it with just 93 stores remaining since it was taken over by Hilco Capital in 2018.
Poundstretcher has closed five stores this year with another due to close by next year.
Even charity shops are struggling Oxfam confirmed it would be closing eight of its UK stores this year.
Do you have a money problem that needs sorting? Get in touch by emailing [email protected].
You can also join our new Sun Money Facebook group to share stories and tips and engage with the consumer team and other group members.
Source: Read Full Article