The Market, one of Manchester's oldest restaurants, has closed its doors after 34 years in operation, as a result of increased running costs and a "fickle" food scene.
Located at 104 High Street in the city's Northern Quarter, the Market would have celebrated its 35th birthday at the end of the month.
But owner Gary Newborough told dining guide Sugarvine.com that the shifting demographic in the area meant that there was "little room any more for the small independent operator".
"For almost 35 years our cooking remained very simple. We were never motivated by change for change's sake, technical wizardry or experimentation at the guests' expense," he said.
"However, times do change and staying relevant in the somewhat fickle Manchester eating scene is close to impossible. New concepts and pop ups now appear almost daily and attract audiences who need to be stimulated by the ‘next new thing'."
"Fast food, an obsession with burgers and eat as much as you like for a fiver makes it almost impossible to run a business profitably providing locally-sourced, organic ingredients cooked in traditional ways for customers who want to linger all night."
Newborough added: "From a business perspective, nostalgia and locking on to the past for too long is a dangerous pursuit.
"Reinvention is the key to business success and so it's time for a different approach, a different menu, a different style. It's time to step aside and make way for a new chapter in the life of 104 High Street."