A staff member at Hotel St Clair, which houses the restaurant, confirmed today the restaurant had closed permanently.
She told the Otago Daily Times management had decided to close it because it was "not doing well".
There were no plans to re-open it, she said.
Under previous owners, the 26-room Hotel St Clair's restaurant Pier 24 won several culinary awards.
Pier 24 is part of the Hotel St Clair, which was sold by co-developers Calder Stewart to Korean interests in February 2016, having been on the market since mid-2014.
The value of the multimillion-dollar deal was undisclosed. The hotel's rateable value at the time was $6.85 million, plus an adjoining section, which was valued at $765,000.
The hotel opened in December 2009 and was named Best New Hotel 2010 by the Hospitality Association of New Zealand.
Earlier this year, Pier 24's Auckland lawyer Joseph Kim of Morrison Kent apologised to Havoc Farm Pork after its staff told a customer it used free-range Havoc pork, when it did not.
''This is a genuine mistake for which our client [Hotel St Clair] unreservedly apologises,'' Mr Kim said in statements to Havoc and the ODT.
