The discount retailer – which recently merged with Poundland after Competition and Markets Authority approval – opened in what was HMV back in November 2013, but Island Echo understands that the store will be closing in its current form at the end of March.
Poundland, which opened its first Island store in Newport High Street back in August 2009, is all set to move into the current 99p Stores leaving behind its home in the former Woolworths premises across the road.
The £55-million merger between the two discounters has created a network of around 800 stores nationwide.
A spokesperson for Poundland refused to confirm the move, however has issued a standard statement saying:
“Poundland is currently considering the acquisition of new stores to add to those already opened this year. The stringent acquisition process ensures the new stores are positioned in the right location and fit Poundland’s customer profile.
“Due to the popularity of Poundland’s product ranges, the organisation is keen not to raise anticipation for a new store before plans are finalised. Therefore, Poundland cannot disclose any more information at this stage. As soon as all details have been confirmed, Poundland will immediately release this information to the area in question.
“Serving over 7 million customers every week, Poundland offers an irresistible shopping experience where shoppers are guaranteed to find over 3,500 quality products in each store, including over 1,000 well-known brands, across 17 shopping categories including food and drink, health and beauty, household, gardening, DIY, Pet, Stationery, Books, DVDs and Toys.”