The Chateau had been open in Coombe Lane since 1978 but announced this week it was to pack up with immediate effect as a consequence of rising costs and the pandemic - it has been reported.
As well as its well reviewed meals, the Chateau served as a venue for civic functions and fundraisers, as well as a reliable host for mayoral events. It was also a venue for wedding receptions and ceremonies
It follows the closures of the Selsdon Park Hotel and Croydon Park Hotel, while three Wetherspoons pubs have closed, as has the Waitrose.
The Chateau marketed itself as a top end eatery, with its beef fillet costing £28 and lamb rack setting diners back £23.
The Christmas Day offer of three courses for £85 has now been pulled and all bookers will need to make alternative plans. Refunds have been made available.
One posted on social media: “They have called me tonight and given me a full refund of £400.
“Very lovely gentleman and I feel very sad for them.”
Another added: “I had my 50th birthday party there. Very sad to hear this news, it held lovely memories for me.”
The Chateau had, in recent months, tried to attract customers with cut price offers for dining during the summer.
It maintained a four star rating on TripAdvisor but one recent customer was unimpressed, saying it had been a “top place to dine in the 80s” but is now “expensive” with “poor” food.
The Chateau has not commented on the closure on its website or social media.
The Standard has called the Chateau for comment.