A market town high street is set to lose another national chain after a closing down sale began at shoe retailer Stead and Simpson.

A spokesman for the company yesterday confirmed that the store in Mere Street, Diss, was set to close because of “poor performance and rising costs, which make the location unsustainable”.

The company has more than 200 stores across the UK. The date for the closure of the Diss Stead and Simpson store has not yet been set.

The news comes after the Clinton Cards shop in Mere Street closed earlier this month after the retailer went into administration.

The high street in Diss could also lose another shop after William Hill submitted plans to convert 14 Mere Street into a licensed betting office.