Home delivery games retailer Play.com will close operations in March, the company has confirmed.
The corporation will no longer trade games, DVD, CDs or various other goods directly from March onwards. However, the company will remain as a marketplace service, much like Amazon or eBay, that allows customers and indie retailers to sell content through the Play.com website.
Some 147 workers will lose their jobs at the company's Jersey facility, with another 67 going from its Cambridge and Bristol offices.
The Play.com business was thrown into disarray last year when it was ruled that the tax loopholes it was enjoying should be closed.
The Low Value Consignment Relief - which allowed Jersey-based businesses to sell items less than £15 into the UK without paying VAT - closed down in April 2012.
"Moving forward we are intending to focus exclusively on our successful marketplace, which is our main business area, and to phase out the direct retail part of our business," the company said in a statement.