The closure is the latest development in a longtime family feud.
Owen "Pip" Brennan is a son of the founder and until recently a manager of the restaurant. He is involved in state and federal litigation with his brother Ted Brennan over control of the business.
Amid the family management squabbles, Brennan's was heavily in debt and sold in foreclosure this year to a company called Leggo/4.
Attorneys and representatives for those involved in the lawsuits were not immediately available for comment Friday.
The Brennan family has been a fixture of New Orleans' vaunted culinary scene for decades. Its famous Bananas Foster dessert was invented in 1951.