THE credit crunch has claimed a legendary Stockport landmark as its latest victim.

Historic pub the Three Shires is housed in a listed 15th Century timber building on Great Underbank, thought to be the town’s second oldest building.

But the bar’s owner has decided to call time on the business after being hit by the economic downturn.

It shut down at the weekend, sparking outcry from many who see it as a huge loss to the town centre.

Mike Hodgson, of brewery Copper Dragon, which supplied the Shires, said it had been a victim of circumstance.

"It closed its doors on Saturday," he said. "Because there is no outside space it’s not been helped particularly by the smoking ban. Then there’s the credit crunch and they do rely on the shoppers to be popping in for food. Really I think they have been a bit overtaken by circumstance and high rent."

He added: "It was just unfortunate - it was in a splendid building in a superb place." The pub’s owner, who was not available for comment, bought the pub in 2006 and introduced new beers, making it popular with real ale groups.

Jim Flynn, of real ale campaigners CAMRA, said the town centre would be worse off without the Shires.

"It’s a lovely place," he said. "In terms of the ambience and the history of the place it will definitely leave a gap.It is always sad to see somewhere like that go. Were it to shut permanently it would be such a loss to the town centre - it was unique, really."

Others go even further, saying the pub’s closure represents a wider decline in the town as a whole.

Councillor Sheila Bailey said: "It’s sad because the Three Shires is a really integral part of Stockport and has been for 300 years or longer. If places like that are going under there’s an incredible problem with Stockport town centre."