Beanos' managing director David Lashmar says that "a severe and permanent" downturn in music retail means he can no longer afford to finance the business, as he had done since 2006 when its closure was originally mooted.

"Regular subscribers to our 'beamails' will know that we have had several exclusive special offers," he writes in an email to subscribers. "Our last beamail explained that we were still experiencing desperately poor trade and that we were extending our half price sale ...