Deep Valley at Caddsdown Industrial Park in Bideford will cease trading on August 30.

A 50% off sale on in-store products, including bedroom, dining, living and accessories, as well as already discounted outlet items, will get under way from Saturday, June 13.

The business intends to shift its focus towards its expanding trade operation.

General manager Steve Parker said in a statement: "This has not been an easy decision. Over the years, we've had the pleasure of getting to know so many customers through the Bideford store, helping them choose furniture and pieces for their homes."

"Like many independent retailers, changes in customer spending, shopping habits and the wider economic climate have made operating the store increasingly challenging."

"At the same time, demand from our trade customers continues to grow and we have made the decision to concentrate our time and resources on supporting that part of the business from this point forward."

The firm, which serves as the retail showroom for Devonshire Living, confirmed that the closure will lead to a number of job losses, though the precise figure has yet to be disclosed.

Last week, an award-winning UK furniture brand collapsed into liquidation, with debts of more than £1.4 million.

Pure White Lines Ltd., which was founded in 2012, went into creditors' voluntary liquidation on June 1.

Liquidation is the formal legal process through which a company is wound up and dissolved. This usually involves disposing of the firm's assets to raise capital, which is then utilised to settle outstanding debts owed to creditors and shareholders.