Leaders at Oswestry’s Business Improvement District (BID) says it hopes to be able to work with the owners of a building where a national store is set to close.

Signs have appeared outside of Oswestry’s Poundstretcher store in Bailey Street this week, stating the popular discount shop is set to close on Friday, August 28.

It was announced in mid-June that the company had entered into a company voluntary agreement (CVA) with landlords and shop owners asking them to reduce rents for around 330 of their 450 stores because of the impact of Covid-19.

But it appears that Oswestry will follow the way of its sister store in Whitchurch and close at the end of next month, with staff told last week of the decision.

Adele Nightingale, from Oswestry BID, says she is sad to see another business go in the town, but is positive that the prime town centre location will prove to be an attractive one for prospective new companies.

And she promised that BID will do all it can to support the owners of the shop.

She said: “It is always sad to hear the closure of any business.

“We of course would like to thank the staff of the Oswestry Poundstretcher for all their hard work and would wish them the best of luck for their futures.

“The concern will be that this gives us a large empty retail outlet, however premises don’t usually stay vacant for long in Bailey Street due to it’s strong footfall.

“The BID will now look to contact the owners of the premises to see how we can best help them to develop the premises in order to attract a new business or businesses into the building.”

It has been reported that Poundstretchers’s difficulties began before coronavirus, with the company posting heavy losses for the 12 months prior.

Poundstretcher was contacted for a comment but had not responded at the time of going to print.