A TAVISTOCK textiles business is closing down later this year after 40 years trading due to high business rates, a multitude of taxes and reduced footfall in the town, said the owner.

Colin Peck, who started the Tavy Textiles business in Bank Square and employed 12 people at one point, said it was a sad day for his family and for Tavistock.

'This has been a family business but we closed our branch down in Cullompton 18 months ago because times were difficult,' he said: 'Unfortunately we are having to do the same thing in Tavistock.

'The footfall is going from the town centre and we have been at our wits end. People are doing more online shopping now plus the business rates, general VAT and 23 different taxes have made it increasingly harder to trade.

'The Government is just not helping anyone in the high street. I am sad but on the other hand I will not have any more sleepless nights worrying about the overheads.'

Mr Peck will close down Tavy Textiles in September with the loss of two staff.