Writing on Twitter, the chef said the restaurant will shut its doors on 4 August and revert to a “creative kitchen for the Sanchez Brothers Group for some epic future projects”.
“Sad news but looking forward to the future,” he wrote.
Pi Shop opened in 2016, offering a “simple and affordable” menu of sour dough pizzas.
It sits in between its two Michelin-starred sister restaurants, Casamia and Paco Tapas - which is named after Sanchez-Iglesias’ father.
The chef’s portfolio is set to grow further with a restaurant project at craft brewer Left Handed Giant’s upcoming crowdfunded Bristol brewpub.
Bristol has a booming independent restaurant scene, with commercial rents considerably cheaper than nearby cities of Exeter, Bath and Cardiff. It has a population of 450,000, with some 1,245 restaurants, comparing favourably to London’s 18,000 restaurants and population of nine million.
However, there have been a number of closures in the city this year, including Polpo, Spuntino and MeatLiquor. Well-regarded independent Birch has shut its doors, while Wallfish Bistro will close later this year.