UP market supermarket Waitrose is pulling out of Teignmouth.

It will be a massive blow to the economy of the resort, with the loss of 111 jobs and the hundreds of customers who come in from neighbouring towns and villages, and also spend in other shops.

The company - owned by John Lewis - say they are selling both the Teignmouth Torquay stores to ‘another retailer’, which has not been named yet. The Torquay store in St Marychurch has 96 staff.

The bad news was broken to staff on Wednesday, and many were nearly in tears.

Waitrose, the favourite grocer of the middle classes - took over the former Co-op store in Higher Brook Street a few years ago, and it had a loyal customer base for its quality produce and products. But there were apparently not enough through the doors to make it profitable.

Cllr Sylvia Russell was ‘flabbergasted’ and described the closure as ‘a foolish business decision’.

‘If they looked more to the future they would realise that Teignbridge is expanding rapidly, and ours was the only Waitrose branch between Exeter and Torquay.

‘Many of the newcomers to the area demand a Waitrose, and having a store in a town is said to push up house values - it is known as the ‘Waitrose Effect’. It arrived here with quite a fanfare and always seemed to be reasonably busy when I went in.

The Teignmouth store is outstanding, with superb products and a very friendly staff. I am surprised they could not make it pay, but maybe they have been giving away too many free offers.

‘I hope they can pause and rethink this decision - it just does not make sense to me.’

A Waitrose spokesman said they had exchanged contracts to sell the two stores to another retailer’, and would be closing on June 9. The successor store did not want to be identified yet.

‘The acquiring party has informed us that they will be undertaking works to both units for an extended period of time, with plans likely to be shared at a later date.

‘We will be meeting with the partners in both stores to ensure they are fully supported, and will identify suitable opportunities for those wishing to remain with the business wherever possible’.

Regional manager, Krys Jantzen, added: “We have taken great pride in being part of the Teignmouth and Torquay communities, so the sale of these shops is not something we take lightly. But we have sadly not been able to find a way to make the stores commercially sustainable in the long-term.’