Buy the Case, which was started by Alistair Wilson five years ago, has closed after being forced to write off money it was owed by customers, 16 of whom have called in administrators in recent months.
Wilson told the local media: “We had £40,000 of bad debts and it all caught up with us.
“We have thrown all our own personal money into the business but we couldn't keep it going.
“It is all a terrible shame. We would have had to sell £170,000 worth of wine over and above what we normally do in a month to clear the bad debts.”
Wilson and his partners continue to operate the Wine Cellar bar and restaurant in the Norfolk city.