Brasserie Blanc, Raymond Blanc's high-street restaurant chain, has pulled out of plans to launch an outlet in Cardiff, blaming the economic climate.
The company had been granted planning permission last year to convert a chapel in the centre of the city into a restaurant.
John Wotton Architects had been appointed to carry out the conversion of Ebenezer's Church into a new Brasserie Blanc, plus office space and a further restaurant.
However, the company has now scrapped plans to open the restaurant, with managing director John Lederer saying the decision was "a sign of the times".
Lederer blamed difficulties in getting the necessary finance from banks as well as escalating costs of converting the historic Grade II-listed 19th-century church, which had jumped to more than £1m.
However, Lederer insisted that Cardiff was still among the places in which Brasserie Blanc would like to expand to in the future, telling the BBC: "We will be back."
By Kerstin Kühn
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