The founder of London wine merchant Theatre of Wine has said the Leytonstone store will shutter on March 29, amid tough trading conditions.

Daniel Illsley said that after eight years of trading, directors have taken the decision not to renew the lease.  

“Things are not looking rosy for the drinks trade,” Illsley said. “First the Tories impose the most onerous duty system imaginable and then Labour hike National Insurance and business rates.

“Small businesses were once the life blood of the UK but it’s increasingly a fool’s errand. The message from the government is join Amazon.”  

Theatre of Wine started with a Greenwich shop in 2002, where Illsley said the business “continues to trade strongly”. He said the same of the retailer’s second site in Tufnell Park. 

“For now expansion into bricks and mortar is on hold,” he added. “We are focused on supporting our existing retail shops and driving our wholesale and on-trade division which is thriving. We have no intention of slowing down. Quite the opposite.”