Exmouth bicycle workshop Roots Cycle Works is set to close over what it described as the "utter economic devastation" of the past nine months.

It had already closed its other premises in Ebford (near Topsham) in October last year, and will now close its Exeter Road shop to the public on 21 January and wind up the business.

Chaz Curry of Roots Cycle Works said in a statement: "It seems almost impossible to imagine that this time last year we had a thriving business with over £30k in the bank and two stores.

"In nine months of utter economic devastation we are now at the point where I have no choice but to permanently close the business I took over a decade to build.

"It became very clear to myself and my business partner that the middle and bottom had dropped out of the market in May last year.

"Whilst high-end customers are still there it's clear that the cost-of-living rises have taken huge swathes of middle- and low-income earners' disposable incomes. Those people (who I am myself) have had to make tough decisions for their families and things like getting an occasional used bike serviced has not been a priority (understandably).

"It has been a privilege and a pleasure to serve all our customers and the Exmouth community."

The shop is not taking any bookings for services or mechanical work after 15 January, and will have a closing-down sale until 21 January.