POUNDLAND looks set to open its third store in Colchester.

The bargain basement retailer is poised to take over the QD store in St John’s Street.

QD closed the store last week and is understood to be looking for other premises in the town.

Colchester Council has already been asked by Poundland for permission for signs at St John’s Street.

Poundland has not revealed when the store will open or how many jobs will be created.

If it keeps its other stores, in Long Wyre Street and at Turner Rise Retail Park, the store will be its third in Colchester.

It opened the Turner Rise outlet earlier this year after Wedo home furnishings shut after trading for just 15 months.

The news a new Poundland store has been welcomed.

Bill Frame, Colchester councillor responsible for planning, said Poundland would complement nearby Wilkinson and Iceland stores.

He said: “I have not got a wish list. It is up to the market to determine what goes where.

“I think QD is looking for somewhere else in Colchester.

Hopefully, it will stay in the town.”

Ron Levy, secretary of Colchester/Retail Business Association, said: “If it is an additional store that is very good news.

“It is a real boost and better than an empty store. The town is big enough to take them. It will complement the area.”

A Poundland spokesman would not confirm the store was due to open, despite the firm applying for permission signs.

He said: “We are keen not to raise anticipation for a new store before plans are finalised, therefore we cannot disclose any more information at this stage.”

The Gazette contacted QD but it did not respond.