A WELLINGTON newsagents has announced its sudden closure after 11 years. 

E J Teare, South Street, wrote a heartfelt post on its Facebook page last night (July 13) explaining the reason for the closure. 

The post explained the reason was because of alleged problems with its banking provider.

The owner's apologised for not being able to give notice to their loyal customers, as they hoped they'd be able to find a solution. 

The post said: "It is with sadness and regret that we must announce that E J Teare Newsagents has ceased trading with immediate effect.

"HSBC plc (2016 profit £5.7bn) suddenly and without warning withdrew our overdraft facilities with one weeks notice. A business such as this relies on its cashflow and we were unable to make practical alternative arrangements to continue trading with such short notice.

"We apologise that we were unable to inform our loyal customers in advance but we had hoped that a solution could be found and we would be able to remain in business.

"We wish to thank our staff and paperboys/girls for their service. They were at the heart of this business and we’re devastated to leave them without jobs.

"Shop local. In the 11 years we have been trading we have seen a marked decline in the number of people shopping in town. Either use or lose your local businesses.

"For engraving, voucher and parcel collections please go to Mad Dog."

Somerset County Gazette:

A HSBC spokesmans said: “We are unable to comment on customers even to confirm that they are or aren’t a customer but would stress that we make every attempt to contact business customers who need help with their banking services. 

"Unfortunately if they don’t respond we may be forced to restrict their services but this is always a last resort. ”