A pound shop cafe in swish Fitzrovia has shut down after almost 12 months as it has to review its business model.
Caffix, which opened on Newman Street in west London last June, said it set itself a mission "to enable the people of London to eat fresh and pay less," charging punters in the area just £1 for anything on the menu. Tea, coffee, sandwiches, you name it.
Caffix, which has now shut down to review its own business model, issued a statement on its website saying "freshly made, quality, tasty food, and premium Italian espresso coffee were the founding principles".
The news comes as something of a blow, after a recent study from PwC found that high street stores are being rapidly replaced by coffee shops and food outlets.
"We are proud to say we never wavered from this, and were so delighted to be making a difference and putting a smile on the faces of so many people," the statement continued.
The cafe, which sold such foodie delights as roast beef, falafel and hummus, and beetroot and lentil wraps for the rock bottom price of £1, says it is "taking the opportunity to close the shop at 45 Newman Street, and review the business over the last year", and concluded: "This is not necessarily 'goodbye', but 'see you later'."