Despite the resurgence in sales of vinyl and the success of the annual Record Store Day celebration, the doors will open on Brighton’s Rounder Records for the last time later this month.

After forty six years of trading the iconic south coast record store will close for good at 6pm on Sunday 29th July. The shop issued a statement this morning citing both legal and illegal downloads, VAT avoidance of online retailers, the double dip recession and the decline of the high street for the closure. Rounder’s owner Phil Barton added "The shop and the staff have always striven to be the best. We are not able to deliver the best anymore and with the deepest regret I have to close the doors at the end of July. Rounder has been a part of my life, and my loyal staff's lives for so long that having to close is a very bitter pill to swallow. We tried everything to stay open, but the basic economics were killing us."

For nearly half a century Rounder Records has been a hive of musical culture in the affluent seaside town and the statement continues: "We would like to give heartfelt thanks to all our customers over the years, and hope that we have managed to provide you with some special and great music throughout this time. That's why we have been here – as place to obtain, hear, find out about, discuss all types of the weird & wonderful world of music, to be a social hub for a musical city, a place where future bands are born, where record labels are started, where local bands can stock their first release, where you can get tickets for gigs, where there's something playing on the shop stereo that might be your new favourite band. Sadly, in 2012, this is just not financially viable."

Many of our staff and readers are extremely fond of the record shop which took time to talk to us earlier this year as part of our Record Store Day coverage - so it is quite sad to look back at that interview now and especially this poignant quote: "And remember, we have cool vinyl records for sale 365 days a year."

We wish everyone involved with Rounder Records the very best of luck for the future, we'll miss you. Wherever you are in the UK, remember to support your local independent record shop.