Four Seasons restaurant is closing. Is the power lunch dead?

The famed Four Seasons Restaurant in New York, which for decades was a go-to spot for power brokers to hobnob over lunch, will shut its doors on Tuesday

The 60-year-old upscale dining spot hasn't been able to hold onto its clientele, Four Seasons managing partner Alex von Bidder told CNN Business on Saturday, and its investors"lacked the confidence to fund it for another year or six months."He confirmed earlier reports in the New York Post and The New York Times that the restaurant will close indefinitely after lunchtime on Tuesday.

"People would eat [at the Four Seasons] two or three times per week. Then all of a sudden it's gone for two years. They fell out of habit."He added that the idea of the power lunch"has dramatically changed over time," and the crowd that used to regularly have extravagant lunches"are getting on in their age."CEOs in love: How power couples make their lives workThere's also been a decline in the number of parties and events booked at the restaurant.

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