High Wycombe’s town centre is at risk of plunging into crisis as retailers continue to sell up and move out - with two more shops shutting their doors for good in the High Street and the district council set to lose out on £80,000 of rent from the closure of a popular shopping centre department store.

Both Argos and Poundworld on the High Street will close down, leaving two empty stores on the main shopping street in the town, and the loss of House of Fraser in the Eden Shopping Centre will leave Wycombe District Council £80,000 out of pocket until a new retailer takes over the prime spot.

The council said it was “extremely disappointed” that House of Fraser was leaving the town after 10 years – but the store is expected to continue trading until 2019.

The news of the closures comes amid complaints from councillors that High Wycombe’s High Street is “one of the worst” – with shops closing their doors and the pavements falling into disrepair.

Amid a continual decline of the British high street due to a shift towards online shopping, inflation and squeezed incomes, Argos is set to move inside the existing Sainsbury’s superstore on July 28, while Poundworld is closing completely after the company collapsed into administration last month.

It comes after a number of high profile closures – including BHS, Toys R Us, Build A Bear and House of Fraser, all in the Eden Shopping Centre.

A spokesman for Wycombe District Council said the old Argos store will likely become non-retail, subject to planning permission, reflecting the “predominance of banks/building societies/estate agents at the eastern end of the High Street.”

They added: “The loss of Poundworld and relocation of Argos [to Sainsbury’s] reflect the challenge to discounters and consolidation in the retail market.

“The council is in contact with the private owners of both properties via local commercial property agents.”

Amid a string of stores leaving the town centre, Pret a Manger has announced it will be opening up in the Eden Shopping Centre.

Wycombe District Council has also revealed it is working with retailers to regenerate the High Street.

Cllr Steve Broadbent, who is cabinet member for economic development and regeneration, said: “The council continues to actively work with potential businesses, property owners, agents and other parties to attract new independent traders, the most recent being 5 Cornmarket [adjoining Lunch] which is under offer for a business start-up. Such niche players are the key to maintaining activity in the High Street.”

Councillors have even used to decline of the High Street to further calls for a town council for High Wycombe, with Cllr Julia Wassell saying public areas round the town centre have been “wrecked” over the years, adding that the only way to rectify it is to replace the town committee with a fully-fledged town council, full of local people who care about improving the town.