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11th October 2018
03:41pm BST
We fell in love with these shops because of their glorious treats so you can imagine we're extremely sad with the news.
Despite opening their second store in Dublin just 14 months ago, the UK cake chain, Patisserie Valerie will cease trading immediately after it discovered what is being described as a "black hole" in their finances.
They were hit with a petition to stop following a discovery of unpaid taxes and alleged fraudulent accounts.
A statement from the company states:
"The company, in conjunction with its professional advisers, has during the last 24 hours, undertaken further investigation into the financial status of the company.
"The board has now reached the conclusion that there is a material shortfall between the reported financial status and the current financial status of the business.
"Without an immediate injection of capital, the directors are of the view that that is no scope for the business to continue trading in its current form.
[There has been] significant, and potentially fraudulent, accounting irregularities and therefore a potential material mis-statement of the company's accounts
"[We are] assessing all options available to the business to keep it trading".
Their two Dublin shops are in Blanchardstown Shopping Centre and in the Ilac Shopping Centre on Henry Street.
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