It joins Santander and Dorothy Perkins as shops leaving the town centre.
The branch, on Market Place, is one of 44 across England that Lloyds Banking Group said will close.
It was chosen as customers carry out 'significantly' fewer transactions at the branch.
The nearest Halifax will be located in Nuneaton.
In a statement Lloyds said,
"Of the closures the Group has announced today, over a third are branches situated in or around cities and large towns, with another branch very close by. All closures have been made in line with the Access to Banking Standard and FCA guidance. In line with previous branch closures, there are no compulsory redundancies and the Group’s unions, Accord and Unite, were consulted."
However union bosses have been angered by this decision.
Unite national officer, Caren Evans said: “The decision by Lloyds Banking Group (LBG) to further erode its presence within our communities is baffling. The closure of 44 more bank branches will deny our communities of essential services such as access to cash and experienced highly trained staff. A local ATM is not a suitable alternative to a staffed bank branch.
“In recent times LBG has spent significant resource to sell its message of ‘Helping Britain Recover’. Unite seriously question how this decision to walk away from local communities promotes this message at a time when the customers will rely on the financial services sector support more than ever.
“Unite does not view the bank branch network as a disposable commodity and the union believes that the branch network has a value far beyond its immediate commerciality. Unite wants to see Lloyds Banking Group invest in the branch network and commit to a meaningful presence in our communities.”
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