A GIFT shop in Burnham-on-Sea has announced it is closing its doors after seeing a 75 per cent dip in trade.

Marcel Jenkins, owner of Hidden Treasures on High Street said since B&M Bargains opened in the town in September last year, trade has dipped by 75 per cent.

“I am really sad that we are closing Hidden Treasures at the end of June but we have lost a lot of trade over the last few years,” he said.

“Since Morrisons closed in 2016 and B&M took over we have lost about 75 per cent of our trade to the store.

“Big stores like B&M have such a wide product range we just can’t compete.

“A number of business owners along High Street have been suffering since B&M Bargains opened as they are independent stores who struggle to compete with such a big store.

“In the last year or so we have lost about £50,000 of our investment and so we decided that it was time to close the doors.

“We have been in business for a number of years so it is sad that we are closing up shop but my wife Jane has another business in town and so we intend to give that a really big go and make it work.”

But Alex Turco, vice chairman of Burnham Chamber of Trade says although the closure of the store is sad news, footfall in the town has gone up by 7.2 per cent in the last year.

“Hidden Treasures has been a welcome part of the Burnham business community since May 2013 in three different locations and it is sad that the competition from B&M means that the owners have decided to close” he said.

“However, footfall in this part of the High Street is up substantially compared with this time last year and so it is hoped that this unit might not be vacant for long.

“Burnham continues to have fewer vacant units in its town centre than the south west and national averages and it is pleasing to see that vacant units at 3 Regent Street and 3 Victoria Street are due to reopen soon.”

A spokesman for B&M Bargains also reported the store has received positive feedback from residents since it opened.

The spokesman said: “ The feedback we have had from the public since opening the store has been fantastic.

“The Chamber of Trade is reporting that footfall in the high street has increased significantly.

“They’ve also said that footfall in the town centre is up by a massive 7.2 per cent compared to last year – which is great for all the retailers.”