"The face of retail has changed dramatically since I started [Sixty Nine Cycles] eight years ago," owner Nick Moore said on Facebook.
"Whilst the cost of running a business and being an employer has increased during those eight years, the pressure from discounted online sellers has ultimately forced the business to no longer be financially viable."
He added: 'We have a very strong local following and the loyalty from our community of customers has not gone unnoticed over the years."
The shop will close on 31st March.
Moore is a former product developer for Alpinestars – he designed safety products for MotoGP and World Superbike riders. He was also a pro mechanic for Grand Prix motorcycling teams.