The award-winning Commons Restaurant on St Stephen's Green, one of the best-known in Dublin, is to close after 12 years in business.
The 30 staff at the restaurant have been told it is to shut its doors with immediate effect.
Situated close to the Department of Foreign Affairs, the former Michelin-starred restaurant was a favourite among visiting dignitaries and corporate clients.
The future of The Commons Café at the National Concert Hall, which is also owned by the Commons Group, is unclear. The company is due to issue a statement on the matter later today.
The Commons Restaurant, established in 1991 by Mr Michael Fitzgerald, was located in the basement of Newman House, the historic home of University College Dublin.
The restaurant lost its coveted Michelin star this year, which it was awarded under its former head chef, Mr Aidan Ryan.
The owner of the restaurant, Mr Fitzgerald, and the director, Mr Philip Ryan, were unavailable for comment yesterday. However, staff have been told the eaterie had run into financial difficulties.
"The news was a shock to everyone - it came out of the blue," one staff member said. "A lot of the people here are still very loyal to Michael Fitzgerald and hold him in very high regard."
