Poundworld at Westwood Cross will close at the end of this month (March).
Staff have been notified of redundancy after the retailer reviewed its tenancy agreement at the shopping centre.
A Poundworld spokesperson, said: “As a retailer that operates on small margins in the discount sector, it’s vital that we continually review our tenancy agreements and store estate to ensure that we have our shops in the best locations for our customers, and for the business.
“We understand that our customers in the town will be disappointed by the news, however, we have taken the decision to close our Westwood Cross store at the end of the month.”
Poundworld opened the Westwood Cross store in May 2012.