One of Gloucestershire's biggest cycle shops looks set to fall victim to its owner's desire to move its business online.

Halfords Group plc announced its plan this morning (March 16) to close its Cycle Republic chain, a brand which has a shop in Winchcombe Street, Cheltenham.

According to Halford the decision follows a "strategic review", which basically amounts to it deciding the margins are better online, where it plans to focus on its existing cycle business Tredz.

Cycle republic is described by Halfords as a loss-making business, to the tune of £4.3 million in the year to March 29, 2019, but has assets the company said were worth £27 million gross.

"From today we will launch a consultation process with the 226 colleagues affected by the proposal, with a view to mitigating redundancies where possible," said a statement from Halfords.

"We are also actively exploring opportunities to sell the sites as a going concern. Subject to the outcome of current negotiations and consultation, the stores are expected to close during the first half of FY21."

Halfords' decision will also include its Boardman Performance Centres.

"Exiting a low-returning, stock intensive business allows us to improve our return on capital whilst freeing up investment and resources to continue to drive our services-focused strategy, with an emphasis on accelerating the growth of our motoring businesses," said the statement.

Graham Stapleton, CEO said: "The Board has come to the difficult, but necessary, decision to propose the closure of Cycle Republic, our retail store-focussed performance cycling brand.

"This proposal is not a reflection of the hard work of our Cycle Republic colleagues, who I would like to thank for their commitment and passion in serving our customers.

"Going forward we propose to focus our investment and resources in Halfords and Tredz, through which we will deliver market-leading specialist propositions for both mainstream and enthusiast cyclists via a business model that improves our overall economics."