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A discount retail chain has said it has no plans to take over a recently closed Fareham shop – despite speculation on social media.

Pepco, the company which owns high street giant Poundland, has shut down rumours that it will be moving from its current site at Unit 7, Market Quay, 3 Cremer Mall into the disused Wilko store in Market Quay Shopping Centre.

NOW READ: Pictures show empty store as discount retailer shuts up shop

Local people – including The News' readers – have asserted on social media that the chain will imminently make the move – but a spokesperson has quelled the rumours and said no such plans are in place.

Wilko in West Street, Fareham, which has now closed.

Picture: Sarah Standing — Wilko in West Street, Fareham, which has now closed. Picture: Sarah Standing

A Poundland spokesperson said: “We’re always looking at options to open or relocate our stores so they can bring our widest ranges to customers. We haven’t secured an agreement to do so in Fareham.”

The retail chain would not confirm whether it is actively pursuing the Wilko store. Fareham’s Wilko shut on September 28 for the final time following the company’s collapse into administration.

Poundland denies Fareham rumours that discount chain will take over former Wilko shop

NOW READ: Pictures show empty store as discount retailer shuts up shop