Two Small Rooms is shutting up shop after more than 20 years.
Toowong's formal diner was one of the few left in the city, bucking the current trend for a more casual style of dining.
Owner Peter Willumsen said that last service was to be this Saturday night but that they would honour current function bookings.
Just last month, the restaurant appointed new head chef Dan Arnold and was advertising for a chef de partie.
Willumsen said he hoped to find a buyer for the venue and with wife Pia was taking a short break before "embarking on other business opportunities".
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