Magma, a beloved book and art shop in Covent Garden, will shut for the final time on Friday, January 16.
The closure marks the end of more than two decades of trading at Magma’s Shorts Gardens premises.
The shop has become known for its carefully selected collection of books, indie magazines, prints and gifts.
In an emotional farewell Instagram post, the shop said that ‘greed’ from their landlords had led to the decision to close the Covent Garden shop.
In the statement, the owners said: “We started Magma in this area 26 years ago, and our long-time landlords have decided that our time to leave has now come.
“In their words: ‘the current level where the market is at the moment, is not a level that could be sustained by Magma.’
“It is with very heavy hearts that we will be leaving this once vibrant, creative retail neighbourhood.
“We are moving out of an area where almost every small, independent retail business has been pushed out, an area which was undoubtedly more interesting when we moved in and which is now almost identical to every other high street.”
Magma Covent Garden is holding a closing down sale until it shuts, with 40 percent off most items in store.
The shop sold jewellery, cards, games and analogue media.
A kiosk in King’s Cross will remain open.
