The same thing happened to me.
Cambridge Audio Azure 640C CD Player, it cost £270.00 new in May 2007.
The fault happened in June 2008, three weeks out of warranty and the repair cost me £100.00, it needed a new CD tray mechanism including laser.
And it's not that good a CD player. It sounds great for sure but it's very fussy on what it plays, slightest little fingerprint smudge or scratch and it turns it's nose up at it and won't play.
So, there ya go folks, avoid Cambridge Audio CD players, I believe they're only available from Richer Sounds, cos they is crap.
I have their amp, the Azure 640A, 80 watts a channel, and that is superb, best sounding amp I've ever owned. And my
Mum has the Cambridge Audio DAB/FM tuner, the £170.00 model and that is good as well, so not all Cambridge Audio products are rubbish, just the CD players, it seems.
Anyway, sorry barbs, got a little OT there, I'd suggest your CD mechanism is faulty, probably the laser has died at a guess.