If this is true, and a supermarket can't be built on Love Street, then it is bad news for the club as they need the move to try and clear the clubs debt. Without this, the club may not have much of a future.
It's worth noting that Tesco are currently trying to get permission to build a supermarket on the site of Reid Kerr College. Maybe it's just me, but I'm fairly sure it is not in the town centre, or within 300 metres.
Story source: The Paisley Daily Express