The decision comes less than four years after it was launched and has been blamed on lack of demand.
"We gave it three years to gain critical mass, but in the end, the lists are too small," said Perkins.
However, this month sees it launch a new file targeting small businesses called REALSoho. It comprises 1.7 million records distilled from Wegener's B2B and B2C surveys.
"Soho has always been a difficult sector to narrow down," said Steve Cook, commercial director at Wegener Business Data Solutions. "We have stripped four million records down to 1.7 by forming four groups: people that run their own business and have a small office; business people that work from home; tradesmen that have a home office but don't work there and people that have just started a home business."
The file can be selected by age, region, gender, sic code and has had relevant ACORN codes put against it. Most do not have turnover details as many will not be limited companies. "People need to make more than £56,000 before they register VAT," said Cook, "but that's still a good living. Although these are business people, what this file tries to say is that they are individuals and can be targeted that way."