One-Michelin-starred restaurant Bonhams Restaurant on New Bond Street, London, is set to close by 19 December, head chef Theo Clench has confirmed.
The site, housed in the auction house of the same name and previously headed up by Tom Kemble, has retained its star since 2015 and received full marks for food and service in the latest Harden's restaurant guide for the city.
In an Instagram post, Clench claimed the closure was based on decisions by the auction house's new owners.
He said: "It is with a heavy heart I must announce the closure of Bonhams restaurant. Our last service will be on the 19/12/18. Due to new owners of the company the decision has been made that there is no room in the big world of Bonhams for our little hidden gem.
He added: "The cliche that blood, sweat and tears have gone into this place couldn't be more true. Me and Kemble achieved something way bigger than us or anyone expected. I want to thank all the team past and present for all the hard work and dedication over the past four years."
In a statement the auction house said the decision was part of a "restructuring process" The Bonhams Café meanwhile is expected to remain open.
Bonhams Global chief executive Matthew Girling said: "While it is sad to see the restaurant close, our priority is to focus on our core business of auctioneering.
"I would like to thank Theo Clench, Charlotte Logan-Jones and all the other team members who contributed to the restaurant's success."