POUNDLAND is set to move onto Victoria Square — opposite Bolton Town Hall.

The rapidly expanding bargain-basement chain is aiming to move from its current site in Newport Street to larger town centre premises — unoccupied units at 19, 21 and 23 Victoria Square.

A spokesman for the Birmingham-based company said: “Due to Poundland’s expansion plans, our Bolton store will be relocating to a bigger and better store. The current site will close.”

Up to 20 people work at the current store, but Poundland was unable to say whether the larger store would take on extra staff.

Council leader Cllr Cliff Morris hailed the move as being good for the town centre, despite the local authority recently voicing concern over the rising number of pound shops, take aways and bookmakers.

He said: “We are always pleased when businesses decide they want to stay in Bolton town centre. They are moving to currently unoccupied premises and will leave behind an empty unit, but they are not leaving Bolton. It’s a sign of the times that its a pound shop, but people clearly need it and are using it.”

Cllr Morris said Poundland did not fall into the category of the sort of business the council wanted to discourage from Bolton.

Earlier this month, The Bolton News reported that grants of up to £20,000 were being offered to entice new small businesses, like greengrocers, restaurants and music shops back into the main retail area.

Cllr Morris added: “Poundland are a long-established business, the public want it, and we are glad they are here.”

An application will go before Bolton’s planning committee later this year.

Poundland was launched 23 years ago by Dave Dodd and Stephen Smith, specialising in kitchen-ware, gifts, healthcare and other products across 16 categories and, like its rivals, operates a constantly rotating product line with items sold at £1.

The chief executive of Poundland is James McCarthy, who left his role as managing director at Sainsbury’s to take over from Mr Dodd in 2006.