Momofuku is leaving Toronto's Shangri-La hotel, and now the restaurant has officially confirmed a closing date for the location.

The restaurant is a global phenomenon helmed by famed restaurateur David Chang, and its Toronto location also houses a Milk Bar retail shop selling treats made using pastry chef Christina Tosi's recipes.

Momofuku first opened in Toronto 10 years ago in 2012, and an anonymous source who was employes there for a long time had a hunch a 10-year lease would be up around now, suggesting a closing date around Christmas.

Executive chef Hans Vogels left Momofuku in June, but had been with the restaurant from opening day up until then and told blogTO he was surprised not to have been informed of the closure, and that Chang has stepped aside from Momofuku.

The source's hunch turns out to be correct, the restaurant formally announcing a closing date that will be near the end of 2022.

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"We have decided not to renew our lease at this location. We are deeply grateful to the Toronto community for the support over the past decade," Momofuku's PR team said in a statement. 

"Thanks to the teams past and present and the guests who joined us over the years for making Momofuku Toronto such a special part of the Momoverse. Toronto will always feel like home to us."

Momofuku is also offering a $2,000 retention bonus to Toronto employees who stay through the closure. The source who was employed at Momofuku says they spoke to an investor group who confirmed restaurant Mott 32 will take over the space in 2023.

Momofuku Toronto is closing at 190 University Avenue on December 23.