Poundland issue 'vote of confidence' for future of Edinburgh's ailing Princes Street

Yesterday the Evening News exclusively revealed that discount retailer Poundland was set to move in to the former premises of Currys PC World on Princes Street.

In a statement released to the paper today, bargain shop have said that they see the move as a 'vote of confidence' in the struggling shopping street which is set to see an exodus from fashion giants New Look, Zara and Next as they make plans to take up units in the new St James Quarter.

Last week, Poundland made a planning application to Edinburgh City Council for permission to display an advertisement on the shop front which shows their striking branding.

Poundland see the move as a vote of confidence into the struggling street's future.

The planning application submitted has requested a period of five years for the advertisement.

However, Princes Street suffered its fifth consecutive month of shrinking sales as consumers hold back from serious spending commitments, a report has suggested.

It is the latest in controversial shops moving into shop fronts on the street which is home to the 'Harrods of the North'.

Earlier this year, imported treats retailer Kingdom of Sweets opened on Prince Street and came under fire for selling a bag of crisps for £10, amongst other goods at inflated prices.