Owner Simon Knight and his wife decided not to renew their lease on the Friday Street store which expired at the end of last month.
The couple held a closing down sale on Saturday but are continuing with their remaining business, Knights Oriental Rugs, which is in the same street.
Mr Knight said: “We are so busy with my oriental rug business that my wife and I decided to concentrate on that.
“We had a 12-year commercial lease that was up for renewal at the end of June and we decided not to renew.There was no financial issue. I must make it very clear that the landlord did not increase the rent by more than the rate of inflation for the property.