MOLLY’S Den in New Milton will close for good next week as a new owner takes over the vintage and emporium business.

But a branch to replace it could soon be open in Ringwood.

Hampshire-based businessman John East-Rigby has bought the group and has announced plans to invest in it further.

He has also promised that recent interruptions in payments to traders will stop and that all payments will be made on time.

He said traders at New Milton will get the chance to move to busier sites where they can earn more money.

The Stem Lane branch will close on October 27 with most staff and traders initially moving to the Christchurch premises in Bridge Street.

Molly’s Den also has operations in Francis Avenue, Bournemouth, in Winchester and in Salisbury.

Mr East-Rigby, who has named the new company MD Emporium Limited, told the Daily Echo: “We are delighted to have acquired the very popular Molly’s Den business protecting 30 full and part-time local jobs.”

Open seven days a week, Molly’s Den offers retailers the chance to rent units or display cabinets in order to sell a wide range of goods.

Retro furniture, vintage clothing, records, antiques, jewellery, gifts and collectables are just some of the items on offer.

The first den opened in Bournemouth in 2012 and since then more than 500 traders have got involved. It claims to offer affordable rents alongside leisure offers such as cafes and a children’s play area.

With a central till staffed by Molly’s Den, stall holders need fewer staff and their overheads are reduced.

Molly’s Den founder, Dean Souter, will continue with the day-to-day supervision of the sites as Head of Operations, but all financial control and development plans will be managed by the new owner.

Mr East-Rigby added: “Our investment in the Molly’s Den brand will build on its current success and we will be looking to expand the number of trading units. We are already looking at a potential site in Ringwood.

“Traders will benefit from increased marketing, particularly social media, and better financial management and prompt payments.”

Mr East-Rigby has a background in the leisure industry having owned discotheques, bowling alleys and snooker halls.