The Galvin brothers' first restaurant, Galvin Bistrot de Luxe in Marylebone, is the latest to announce its closure with its last service planned for 10 February.
The news comes just a day after it was revealed Birmingham's Turners at 69 would be shutting its doors and follows a slew of casual dining closures.
Chef-patrons Chris and Jeff Galvin launched the 90-cover Bistrot de Luxe in 2005 to great critical acclaim. It was awarded the Catey Newcomer of the Year award in 2006.
In an email newsletter Chris, who ran the restaurant, said : "It is with great regret and a heavy heart that Jeff and I must inform you that Galvin Bistrot de Luxe will cease trading on Saturday 10 February. This has not been an easy decision to make but has been taken predominantly due to many events outside our control which means we are no longer able to remain competitive on quality and price - our original goal - yet remain a viable business at the same time."
All staff will be repositioned throughout the group.
Since 2005 the pair have opened 11 other sites: London-based Galvin HOP and La Chapelle both in Spital Square, Shoreditch; Galvin at Windows, Park Lane; Galvin at the Athenaeum, Piccadilly and Demoiselle in Harrods; The Green Man, Chelmsford; Galvin at Centurion, St Albans; Edinburgh's the Pompadour on Princes Street and Brasserie de Luxe, Rutland Street; and the Demoiselle Dubai and Galvin Dubai.
In a joint statement, they added: "It was ahead of its time, and now it's time to move on. We never wanted to water down the concept or the quality of food we have been proud to serve to a loyal clientele for 12 years. But in the world's great cities things do not stand still. Tastes change and also, as creative chefs, we are restless and now want to do new things not just endlessly repeat the same style of cooking."
Guests are being encouraged to visit Galvin at the Athenaeum following the closure of Bistrot de Luxe, where a Galvin Bistrot style experience is available.
The brothers have confirmed plans of more overseas restaurants, set to open this year.
Chris said: "There are so many stimulating developments in restaurants around the world. We will not copy anything but we will take inspirations and develop new concepts in our own way and will launch a new concept for each of the next five years. I am really excited and positive about this change and looking forward to what we can develop now that we will have the time to consider and be open to new ideas."
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