The closure means the high-profile chef no longer has a presence within the city he made his name.
No reason has been given for the decision, but the Harbourside venture is understood to be yet another casualty of the increasingly tough trading environment faced by restaurants.
“It is with heavy hearts that we share the news that Paco Tapas is closing with immediate effect,” a statement posted from Sanchez-Iglesias and his parents Paco, who the high-end Spanish restaurant is named after, and Sue.
“This decision has not come easily, and it marks the end of a chapter filled with incredible memories, dedicated teamwork, and the joy of sharing our passion for Spanish food and hospitality with all of you.”
The restaurant was awarded a Michelin star in 2017 but lost it last year.
In 2022, the Pacos Tapas expanded into the space that was once home to Sanchez-Iglesias’ Pi Shop pizza restaurant becoming a 115-cover restaurant.
Last year saw the closure of Casa, the high-end but casual Italian restaurant the chef launched within the space that was once home to Casamia and adjoins Pacos Tapas.
Sanchez-Iglesias will continue to operate his Decimo restaurant at The Standard, London hotel.