Popular West End venue Cottiers says it wont be opening again this year.
The bar, restaurant and theatre complex says the timing of the new lockdown rules out reopening before Christmas.
It “fully intends” to come back in the New Year, however, and closing now will give it the best chance of getting back on its feet.
Meanwhile, Cottiers urges people to support the businesses that are toughing it out over Chistmas.
Non-essential shops, services, gyms and hospitality venues are to close their doors from 6pm on Friday.
Glasgow will remain in the top-level of restrictions until December 11, first minister Nicala Sturgeon said this week.
The Scottish government says a lockdown now is necessary to give people a chance of enjoying something like a family Christmas.
Cottiers announced its decision in a Facebook post.
It reads: “This week has been painful and painfully inevitable.
“We knew the government was planning restrictions which would mean opening the doors wasn’t going to be an option and unfortunately it’s come at such a crucial time of the year for our industry.
“Given the unknowns that we will still face when we come out of Tier 4 on December 11, just a few short weeks before Christmas, we have made the difficult decision to remain closed for the remainder of 2020.
“We fully intend to return in the New Year. We believe closing now gives us the best chance of doing that and getting our staff back to work.
“We are going to spend this time giving the old gal a lick of paint and preparing for what’s panning out to be an incredibly busy 2021 for our team.
“All our pre-booked weddings will go ahead dependent on tier restrictions and in line with government guidance, and we will be resuming venue show arounds in January.
“We urge you to support all those small businesses who are doing it tough right now and are adapting what they do to survive and find a way out of this. They need you!
“Look after yourselves and each other, stay safe, and as Journey once said, don’t stop believin’.
“Big love from team Cotts. X”