Musselburgh nightspot Madisons is to be replaced with a bargain basement store.

Kilmac Commercial Ltd, new owners of the estate where the function suite is based, have revealed plans to shut it and build a Home Bargains store instead.

The property developers believe the rebuild will bring up to 55 jobs to the town with up to 50 full-time and part-time positions expected to be created when the store is up and running.

They have applied for planning permission to not only build the new store but open up Olive Bank Retail Park by removing the fence separating it from neighbouring industrial estate Newhailes, which they also own, to create one large retail and business site.

The application to East Lothian Council was submitted this week by Kilmac, the sister company to Kilmac Construction.

Home Bargains has more than 280 stores and employs more than 8,000 staff in the UK. The proposed store would have a gross floor area of 1247 sqm, 987 sqm of that being retail sales.

It is understood Madisons’ owners are looking a for a new location to open, though it is expected to focus more on the restaurant and cafe side of the business.

Kilmac has been working with Madisons for a number of months to help it relocate and it is understood the venue is likely to close before the end of the summer.

Home Bargains hopes to be operating on the site by Christmas.

Derek Ross, Kilmac Commercial Ltd group director, said he believed Home Bargains would add another element to the site, which already has an Aldi and Iceland store on it.

He said: “We believe these stores can work well together and are excited about opening up the site to allow the units at the back of the retail park, in the Newhailes estate, to be brought into the new development.

“This is an exciting venture and the development of a new Home Bargains store has the potential to create up to 50 new employment opportunities in the local area."