The iron bollard opposite Bellunos (junction West St and Church St) had been struck by a vehicle and been wiped out.
Axminster Town Council and Devon County Council are working to fix it as it is a 'dangerous trip hazard.'
The town council attended the site as a matter of urgency and placed a warning cone to alert pedestrians to the hazard.
A spokesman for Axminster Town Council said: "The bollard had already been moved to a safe place by a 3rd party for which we are grateful. We have alerted Devon County Council Highways team and County Councillor Ian Hall to ensure that the repair works at this very narrow section of pavement are seen to asap.
"Please be careful when passing by. If you witnessed the accident, or were involved yourself, please contact the Town Council so we can pass your details to DCC insurers so that the costs of the repair do not fall onto the public purse."
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