The luxury Bagatelle bistro is shutting down after 16 months in operation, due to a lack of business. The permanent staff of 17 were told of the closure on August 10, according to local French daily Monaco Matin. The restaurant has operated from the site of the former and more down to earth Bistroquet in the Charles III Gallery above ave. des Spelugues.

The brand has branches in Sao Paulo, Punta del Este, St. Barth, Rio, Miami, New Dubai, Ibiza, and Saint-Tropez. The bistro’s website describes itself as “a sort of classical circus with secluded corners for schmoozing or snoozing or minding your own business.”

According to the daily, Rémi Laba and Aymeric Clemente joined forces with AS Monaco owner Dmitry Rybolovlev through the company Rigmora Holdings Limited to open the Monte-Carlo operation.