a bit of a conversation amongst some friends, suggestion is that 5 or so years ago the son in law of the owner took it on when the owner retired, suggestion is that it wasn't as well run from that point.
add to that high rent/rates, add to that lack of stock at the moment, and if you can't make up the monetary difference from the workshop to replace the money you are not making from sales then you can't pay your bills. end result, shop closes.
It's a shame, but things felt very different since the road bike shop in Croydon South End closed a couple of years ago and the whole business moved to the shop that had previously been the mountain bike branch further along the Brighton Road towards Purley.
The last few times that I went in there the place seemed sparse with not too much choice of bikes, components or gear.