HYPER VALUE is to close its stores on Barry Island and High Street, leading to fears that the future of the Pleasure Park it also owns is in doubt.

The company, which started life as a market stall on Barry Island in 1980, said that it plans to close nine of its stores in Wales because they were loss making.

It also announced that four of its stores in England are to be sold to Buyology.

Hyper Value has said however that the closures and sales will not affect Barry Island Pleasure Park. The closures will lead to redundancies, both in the stores, and at the company's head office in Merthyr Tydfil. Hundreds of jobs across the company look likely to go.

An internal statement leaked to the Barry & District News read: "As part of the ongoing review and restructuring of the business, a decision was made to close six stores due to economic and commercial needs of the business. This will result in a potential redundancy situation.

"Therefore, the company will in due course have no requirement for a head office function of this size and the jobs of all head office and warehouse staff may potentially be redundant by the end of December 2006."

Managing director Ian Rogers said in a statement to the press: "The business has traded below expectations in the last few years so we have, regretfully, decided to close a number of loss making stores whilst we seek alternative strategies for the remaining business.

"The sale of four stores will ensure that our hard-working staff in those stores will continue to be employed within a strong, forward-looking business."

Company trouble-shooters Hilco UK limited bought 50 percent of the company in August this year with hopes of turning Hyper Value around and the closures and sales are part of a restructuring programme.

Mark Hooper, the Vale's Liberal Democrat candidate at next year's Assembly elections, remembered the stores fondly.

He said: "Hyper Value stores hold a special place in the hearts of Barry shoppers. They have long been a great place to pick up bargains you wouldn't find elsewhere.

"As a youngster growing up in Barry, I remember when the very first store opened in the town. When the stores finally close their doors, it will be sad day for the town, they will be greatly missed."