The shop is one of 25 in the same retail chain being closed down around the UK.
The Oxford-based parent company, Retail Variations, also owned the SF Cody chain which used to have a shop in Halkett Place next to Past Times.
Retail Variations was placed into administration on 4 January with estimated debts of more than £25m.
According to national press reports, creditors have called for an independent investigation into the business, which has been taken over by investment firm Epic Investment Partners.
