Poundland in Coalville is to close next month.

The Belvoir Shopping Centre outlet has announced it will shut down within weeks.

Poundland says it is 'disappointed' to be closing the store and the company says it will 'work hard' to help any employees directly affected by the decision.

A spokesperson for Poundland has issued a statement which reads: "We're as disappointed as our colleagues and customers to be closing our store in the Belvoir Shopping Centre, Coalville in January. 

"Sadly, our lease has expired. 

"Where we close a store, it goes without saying we always work hard to look after colleagues directly affected."  

The closure will be seen as a blow to the town.

Home Bargains plans to open a new store on the former Co-op site in Coalville - but it is not yet clear if it will leave the Shopping Centre.

But North West Leicestershire District Councillor, Elliott Allman, says this should be seen as an opportunity.

He posted on Facebook today (Thursday) and said: "News coming in about Poundland closing in Coalville.

"Do I think this is a loss for the town? Absolutely not.

"We have many shops similar to Poundland already. It provides low quality products, mostly made in China, produced overseas and does not provide much in terms of local area supplies.

"Hopefully something else can go there in its place that brings more to the community and more to the country."