Mr Bradbury said competition from high street chains was another factor in the move, adding they often lacked the same expertise and knowledge as independents.
“There’s very few shops like ours left, maybe one other in Sheffield, and that’s really sad,” he said.
He said he was still in touch with John Carrack, who supported his decision to close.
International tourists have previously visited the shop due to its connection to Paul Carrack, Mr Bradbury said.
He added: “Working there has meant everything to me, and it’s a very sad time, but I have to think of me and my family – it has been very, very stressful over the last two years.”