Stead & Simpson in Barnstaple will close this weekend due to “poor sales performance”.
The footwear retailer confirmed it would close the High Street store on Saturday.
A Stead & Simpson spokeswoman confirmed the store was closing due to poor sales performance and rising costs.
She said: “We can confirm the Barnstaple store is closing down due to poor sales performance and rising costs which make the location unsustainable.
“The decision to close the store is not one which has been taken lightly. It is not in any way a reflection on the hard work and commitment of the staff.
“Every effort will be made to redeploy any affected personnel to nearby stores wherever possible.”
Head Office could not confirm how many staff would be affected by the shop’s closure.
A “closing down sale” is currently in progress and ‘closing down’ signs currently line the windows of the store front.
It is not the only Stead & Simpson to close in the region. A store in Sidmouth has already closed down, while stores in Exmouth and Teignmouth are due to close within the next fortnight.
Stead & Simpson was bought by Shoe Zone in 2008 and the firm currently operates both stores. Shoe Zone in Barnstaple is expected to remain open.
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