Jamie's Italian in Princesshay is expected to shut in the next few months, along with five others around the country.
The vote to leave the EU is being blamed.
The chain's chief executive says it is "a tough market", which has become even harder post-Brexit.
The closures will affect 120 staff nationally, but the company says it will try to find them work in other parts of the business.
Five men remanded on Exmouth murder charge
Giant-sized laughs at Northcott panto
Hundreds sign petition calling for village zebra crossing
Car parking fees to go up on Dartmoor
Tens of millions to be invested in Devon's buses
