Non-profit local news magazine the Croydon Citizen is set to close because it is “too short of both love and money to survive”, according to its editor, who said Facebook and Google has “won the battle for eyeballs”.

The independent title, owned by Citizen Newspapers, will cease publishing entirely – both its website and monthly print edition – next month.

The magazine was founded by editor James Naylor in 2013, after he raised more than £2,000 through a crowdfunding website.