Launched in 2022 just off the Cornwall town’s high street in partnership with fellow chef Harry Cartwright, the venue held a Michelin Bib Gourmand and two AA rosettes.
Writing on Instagram, Brady said that the restaurant – which specialised in seafood - would not be reopening in the new year.
“We would like to thank all of our amazing guests that have joined us over the last three years and for their support,” the post reads. “Due to the rising costs and challenging circumstances, we are unable to open again.”
On Mulberry Passage close to the harbour, The Mulberry offered a £70 tasting menu that included cured Newlyn brill with gooseberry, Cornish broad beans and sea herbs; and Phillip Warren’s lamb with polenta and green sauce.
The pair met while working at The Pig at Harlyn Bay near Padstow.
Brady’s CV includes a stint with Nathan Outlaw at his flagship restaurant in Port Isaac while Cartwright previously worked for a number of top overseas restaurants.