Highly profitable sales to businesses had plummeted with no signs of picking up, said Lewis. Pre-tax profits were down 56% to £7.4m.
"From the middle of September we saw a real collapse in sales to large corporates, which accounted for 25% of our turnover," he said. "Every finance director in the country has put a red line through entertaining ."
Wine and Beer World, Majestic's French business in Calais and Cherbourg was also hit, but sales to consumers of good value mid-range wines from New Zealand, South Africa and Argentina were holding up.
Overall sales increased by 2.4% to £202m with like-for-like sales positive since Christmas, he added.