Rurnours are circulating in Smalltown that popular cheap store S&M, which operates from a prime position on Smalltown seafront could be closing shortly.
The store, which is popular with holidaymakers searching for cheap food to take back to their caravans, and local residents seeking cheap home decor Tat, took over the site from supermarket retailer Borrissons in 2016.
In 2018 the site was offered for sale by the owners, a pension fund company, at a cost of over £6 million, but eventually sold to Smalltown Investment Property (SIP) for around half that sum. It is believed that at some point SIP may want to demolish the buildimg on the site and build a multi-million pound block of apartments which will be offered for sale to elite residents of Monte Carlo in search of a seaside holiday home.
However, S&M still has around two years left on their lease, which it is believed currently costs the company over £450,000 per year in rent.
Locall retail expert Dani Morris has refuted the claim that S&M are leaving Smalltown saying “I have emailed the Chief Executive of S&M asking if these rumours are true and I have received a reply which says ‘No comment’. The reply contains the word ‘No’ and therefore I can confirm that there is no truth in these rumours whatsoever and I am right and you are WRONG.”
Readers are reminded that previously when Ms Morris has insisted that something is or isn’t going to happen, it usually doesn’t or does a few months later.
Meanwhile Sadgebore Councillor Fencesitter agreed with Ms Morris saying “I can confirm that this rumour isn’t true as no one has told me anything about it and, as a Councillor on Sadgebore District Council, I would be the first to know.”
Squire Teflon was also quick to reassure residents “Late night users of the car park, such as myself and my close-friend and employer Mistress Bones, have nothing to fear. Sadgebore Council has a lease on the car park which isn’t due to expire until 2050, so we can continue to use the facilties for nocturnal activities until then.”
SomersetClive will bring you the latest on this story when it happens.