A TEIGNMOUTH charity shop has closed after 18 years in the town, because it is no longer making a profit.

The Rowcroft Hospice store in Regent Street is another victim of the economic downturn, which is affecting shops across the country. It has been hit by a double whammy of rising overheads and customers cutting back on their spending.

'Up to the end of January, the shop had been unable to provide a financial contribution to support the running of the hospice services.