A POPULAR department store is due to close, after a “large national company” beat its best rent offer.

QD Stores, in St John’s Street, Colchester, will close at the start of next month.

The shop’s lease expires in October.

QD discovered another company had offered the landlord a higher rent, which QD could not match.

David Haycox, retail operation director, said: “It is a large national company that came in and offered a level of rent that was far more than we can do.”

He could not say which company it is.

But QD is not ready to leave Colchester completely. and is committed to staying in the town.

It is already in negotiations for a new unit.

The shop has ten members of staff, four of who are full-time.

Some employees have already left after finding new jobs, while others are waiting and hoping to move to QD’s new location when it opens.

Mr Haycox said: “We really wanted to stay in Colchester.

We’ve traded here for a number of years. As a result, we know we can continue to be successful here. I think it is good reflection on Colchester that someone is ready to come in and take the premises.

“Colchester town centre looks vibrant to us. The right businesses will do well here.”

QD sells a variety of products including homeware, pet supplies, toys, electrical appliances and garden items.

It will close on September 5, to enable new tenants to open in time for Christmas.