A newly opened supermarket in Britain that offers all goods for 25p has been forced to shut after little more than one day in business, as it ran out of stock.

The EasyFoodstore, brainchild of EasyJet founder Stelios Haji-Ioannou, opened in London on Tuesday and soon queues of customers stretched along the street. Having opened on Tuesday, the shop was forced to close on Wednesday evening as the shelves were stripped bare.

The store offers all goods for 25p and aims to fit into the gap in the market between discount retailers such as Aldi and Lidl, and food banks. There are just76 items on sale and all are available at just 25p throughout February. Prices are expected to rise to 50p per item when the initial promotion ends.

The store announced the closure in a statement.

“We regret to announce that we will remain closed for one day tomorrow 4th of February and expect to open with business as usual on Friday ... at 9am,” the statement said.

“The reason for the closure is that due to huge publicity that our 25p promotion has attracted, we have had queues of customers coming to shop today and hence we are sold out of all stock of food items.

“Unfortunately our usual supplies are unable to meet the demand in order to restock the shop again fully until Friday,” it added.

The shop also said that the 25p promotion is conditional as only while sticks last.