Brothers Paul and John Havelin said they were unsuccessful in their tender to renew the lease for Jonathans in the Park at Lightwoods House.
The move has sparked a string of comments on social media about the restaurant, based in Lightwoods Park in Bearwood, closing for good.
A social media post by the brothers read: "In August 2017, we brought Jonathans in the Park to Sandwell, where we set out to deliver the finest food, drink, and service at our Victorian-themed tearoom/restaurant in our home area of Bearwood.
"Unfortunately, our lease has expired and we were unsuccessful in our tender to renew the lease here at Lightwoods House. This means we are likely to close Jonathans in the Park at the end of January.
"However, we will be fully relocating to Jonathans in the Roundhouse which is only a four minute walk from Brindley Place, with plenty of parking nearby as well as the 126 bus stop right outside."
Paul began his hospitality career in the renowned Jonathans restaurant in Oldbury 40 years ago, under the guidance of owners Jonathan Baker and Jonathan Bedford who trained him from being a schoolboy washer up to head chef by the age of 17.
The original and famous Jonathans restaurant was established in 1977 and went on to attract a loyal following of discerning diners and celebrity guests. It had a site on Wolverhampton, Road, Oldbury, which closed down in 2009.
When Paul and his brother John, who is the business’s front of house host, decided to open their own venue Jonathans in the Park, in 2017, they received permission to prefix the name from original owner Jonathan Baker, with the aim of continuing the special tradition of the restaurant to deliver unique and masterfully created great British dishes.
The post on social media added: "We would like to thank our wonderful customers who have made our tearoom in the park so special, many of whom supported us during the difficult times of the pandemic and at our numerous themed nights & celebrations.
"We would also like to thank Steve Eling, Richard Marshall, and Bob Piper for allowing the good name of Jonathans to serve the local community again, a constitution in Sandwell since 1977.
"We know lots of you will have some great memories from your times with us here at Jonathans in the Park, where you shared precious moments with your family and friends. We’d love to see you here this month to give it the farewell it deserves."