JOBS are under threat at two Wyedean stores after it was announced one would be closing and the others’ owners had gone into administration.

Workers at farming and rural life store Countrywide face an uncertain future after the company went into administration, putting around 700 jobs at its 48 stores under threat.

And high street fashion chain New Look has announced it will be closing its Monmouth store as part of a rescue plan.

But more positive news has been confirmed just yards away from the New Look premises in Monnow Street, with Home Bargains set to open a new store beside the town bus station this Spring, creating up to 50 part-time jobs.

Countrywide Farmers had agreed to sell its retail business to Mole Valley Farmers Ltd, but Competition and Markets Authority (CMA) clearance is required, and the watchdog announced earlier this month an in-depth investigation will take place, which could take another six months.

A Countrywide statement said: “The board of Countrywide Farmers plc has carefully considered the implications of this extended timeframe and has discussed options with Mole Valley Farmers.

"After receiving extensive professional advice, the board has concluded that it will be unable to meet its financial obligations for this extended period of time."

"Significant trading difficulties and cash flow pressures" have been blamed for the move into administration.

New Look has also announced it is closing 60 0f its 593 stores, with the loss of nearly a thousand jobs, including those at its Monmouth store.

But work has begun converting the former Budgens store into a Home Bargains, just yards away in the Oldway Centre, which has been vacant since the supermarket closed down in March 2017.

Confirming the opening of a new store, a spokesman for Home Bargains’ owner TJ Morris said that while management jobs will probably be filled internally, they expected to recruit up to 50 part-time sales assistants in March and April.

"We’re hoping to open in May and anybody who wants to apply should keep an eye on our website where jobs will be advertised," he added.

Sales staff can work anything from four to 20 hours a week.

In September the popular chain said it was looking at potential store locations in the Forest of Dean as part of plans to double the number of shops, but the company couldn’t confirm any further progress at this stage.

Home Bargains, which bills itself as selling "top brands at bottom prices", was founded more than 40 years ago by Tom Morris in Liverpool.

Today it is one of the UK’s biggest privately owned companies, with more than 400 stores employing around 17,000 people.

The Oldway Centre site in Monmouth has previously housed Somerfield, Co-op and Budgens supermarkets.

Budgens closed down 12 months ago with the loss of 21 jobs, just nine months after a relaunch, after owners Food Retailer Operations Ltd went into administration.

Anyone wanting to apply for a job with Home Bargains should see the store’s website at jobs.homebargains.co.uk