PLANS to convert one of Chulmleigh's oldest pubs into housing have been submitted to North Devon Council.
The owners of the grade-two listed Globe Inn have submitted the plans to convert the building into one four bedroom, and one three bedroom home.
Closed by previous owners Enterprise Inns, the pub was bought by Red Lion Enterprises in 2009, who reopened it as an up market bar and restaurant.
However the project's agent Stephen Berry said in a letter submitted with the application that despite attempts from the current owners to increase levels of business, the pub was financially unviable.
He said: “The property was in a very poor state of repair and the applicants proceeded to renovate the property from top to bottom.
“The business initially had an exciting period with a top chef filling the restaurant capacity but it still lost money rapidly.
“Even without taking into account the financial investment the business has lost money for each of the four years of ownership.”
Red Lion Enterprises, who also own the Red Lion Hotel in the town, said they wished to focus their efforts on the remaining pub, with plans to expand the premises in the future.
Despite attempts to sell the Globe Inn, no successful buyer has been found.
Stephen said that if plans to convert the property were accepted, there would be little concern from within the town.
He said: “The closure of this public house will not bring many tears to the eyes of the local residents as the do not, understandably, welcome the bustling environment.”