A LONG-ESTABLISHED fabric business has announced it is set to close its Basingstoke store.

Cutting Edge Fabrics will depart its Brighton Hill base after the 15 year lease expires on September 8.

Bosses have said they have been priced out of renewing their current agreement due to a rent increase.

The unit will instead be taken over by their current neighbours, Basingstoke Veterinary Centre, who will be carrying out refurbishments over the next couple of months.

A note to customers posted on the fabric store's door, said: "I'm sorry to inform you that Cutting Edge Fabrics Basingstoke will be closing its doors. This is due to a new rent increase as the 15 year lease on the building is up."

The company - which also has stores in Newbury and Waterlooville - has said while it wants to stay in Basingstoke, that is looking like an unlikely prospect.

"The company is still looking to open in Basingstoke," it added, "but with the economy the way it is, I'm afraid to say the unit is too expensive to run. We want to thank you for your support and kindness over the years."

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