Commercial Court Inns, which runs the downtown pubs, said a mix of full-time and part-time workers are currently employed at both establishments.
In March, wet pubs were asked to close and did not reopen in Northern Ireland until September 23.
Meanwhile, restaurants, cafes, pubs and hotels that serve food were allowed to reopen on July 3 after a significant drop in the number of coronavirus cases.
It is reported that a consultation period is now underway with employees.
“It is with a heavy heart that we confirm that the Duke of York and the Harp Bar will remain closed for the foreseeable future,” said a spokesperson for the Inns Commercial Court.
“Despite our best efforts, we haven’t been able to find an economically viable way to reopen these iconic venues, which were built for friendly conversations, craic, and up-close live music.
“The time will come when those doors will reopen and the lights will be back on. ”
They added, “The craic and the conversation will return and the reunion will be all the sweeter for the wait. ”
The announcement comes a week after the Northern Ireland executive imposed an 11pm curfew on September 29 on bars and restaurants.
Colin Neill, CEO of Hospitality Ulster, said the move “speaks volumes about the depth of the trade restrictions.”
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“Unfortunately, this situation is indicative of the current business environment and the real impact of Covid19 on the hospitality industry,” said Mr. Neill.
“We are devastated for the employees who have received this news and who know it will not have been an easy decision.”