Homebase has announced that its Chepstow branch is to close on April 11, 2019.

The store, at Beaufort Park in the town, was thought to have been saved when Homebase announced a closure programme in August last year.

But the company has now confirmed that the store, which also houses an Argos shop, is to close.

The company had been in discussions with the landlord and has decided not to renew the lease on the store.

The company would not confirm how many staff would be affected by the closure, as some may be offered redeployment options.

The store, which is close to Chepstow Ford, a Tesco Express outlet, and a number of other businesses, has a garden centre, DIY and furniture sections.

One local resident, who regularly uses the store, said: "This is very disappointing news and I hope the site doesn't stay empty for long. It would be perfect for a supermarket like Aldi. There's been rumours in the town that they are looking for a site to open a store in."

In August last year Homebase entered into a Company Voluntary Agreement which allowed it to make changes to its store portfolio, in the hope that reducing its cost base and providing a stable platform on which to continue its turnaround.

It announced then that 42 stores nationwide would be closing, but the Chepstow store was not on the list.

The company said at the time that its sales performance and profitability had declined significantly under its previous ownership and it had faced an "extremely challenging retail trading environment reflecting weak consumer confidence and reduced consumer spending".

At the time Damian McGloughlin, CEO of Homebase, said: “Launching a CVA has been a difficult decision and one that we have not taken lightly. Homebase has been one of the most recognisable retail brands for almost 40 years, but the reality is we need to continue to take decisive action to address the underperformance of the business and deal with the burden of our cost base, as well as to protect thousands of jobs. The CVA is therefore an essential measure for the business to take and will enable us to refocus our operations and rebuild our offer for the years ahead.”