A popular discount store has confirmed it is shutting this week after opening just 12 months ago.

Poundland will close its Deansgate branch on Thursday  (October 17).

The retail chain said the closure was due to being unable to "secure an agreement with the landlord" and therefore will not be able to remain open. 

But it stressed that its Victoria Square branch will remain open for business.

A spokesperson for Poundland told The Bolton News: "I'm afraid we've been unable to secure an agreement with the landlord at Deansgate that would allow us to stay open there and that's why the store is set to close on October 17. 

"There is no impact on nearby stores. 

"It goes without saying that we are disappointed not to be able to keep that store open and we look forward to welcoming customers in our nearby locations, including Victoria Square." 

Read more: Former Wilko store will open as new Poundland store this weekend

Read more: Poundland 'disappointed' at store closure but will look for more opportunities nearby 

Read more: Major high street clothes brand to move stores in Bolton town centre this year

Cllr Linda Thomas, whose ward covers the town centre, said: "It is always very disheartening to hear of any store closing. 

"That is a great pity, it is a popular shop that serves the town. It is a shame, I hope it can be accommodated somewhere else within the regeneration of the town centre. 

"I am sure our officers will be doing everything they can to encourage them to stay in Bolton, and I am sure they will. We have got a growing community in Bolton town centre that will need shops like this. 

"I hope they stick with us, are not too disheartened and can find somewhere else to provide their retail experience from."

The Deansgate shop opened in mid-October last year, in what was the old Wilko store until the chain's collapse, which forced its closure in September last year. 

The chain went through an administration process that saw several rescue bids proposed, which ended with Pepco Group, Poundland's owners, taking on the lease to 71 Wilko stores nationwide. 

Fellow high street retailer B&M bought 51 Wilko stores at the beginning of September in a deal thought to be worth around £13m. 

The Range also agreed to a deal to buy Wilko’s brand for around £5m. 

But both the Wilko stores in Bolton were not saved under the deal.

It was one of a number of big stores to have shut in Bolton including Debenhams and BHS, both which collapsed.

Marks and Spencer in Bolton town centre also shut, in what was seen as a huge blow to the town.

And now the town is being remodelled under a masterplan to regenerate the centre through a mix of housing and shops - with Market Place Shopping Centre attracting big names including Primark before the end of the year.

The store is moving out of its Crompton Place Shopping Centre base as the centre is earmarked for demolition into the old Debenhams unit.