Gary Diamond, 57, owner of Toyology in High Street, Barkingside, said the opening of Westfield shopping centre in Stratford had affected business.
Mr Diamond said: “This is a very upsetting time for us. It was a hard decision to make.
“It all changed for us when Westfield opened. We noticed a further drop in business with the Olympics, when Westfield really came into its own. Our regular customers, who went to the Olympics, visited Westfield and never came back to us. In a place like Barkingside we can’t just rely on people walking past the shop.”
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