Next has announced it will close its Douglas store after saying renewing the lease was not ‘commercially acceptable’.

The clothing chain has been on the island for many years, but it now appears likely to leave, with no indication it is considering alternative locations locally.

A spokesperson for Next said: ‘The store’s lease is coming to an end and although Next wanted to renew it and remain trading on the island, as it has for many years, the landlord put forward terms that weren’t commercially acceptable, so sadly the store will have to close in the summer. Terms for a renewal of the lease could not be agreed with the landlord.’

The building is owned by Kelproperties, which has been approached for comment.

In 2011/12, Next sought to open a second store at the Spring Valley Industrial Estate in Braddan, but the plans were rejected over concerns about the impact on town centres.