The once viral cupcake shop, Sprinkles Cupcakes, is officially going out of business.
Founded by Candace Nelson in 2005, the cupcake bakery shot to virality and became a must have dessert item throughout the years, and even launched cupcake ATMs, which could be found in a variety of places, including airports.
Now, after 20 years, the company is closing down and TODAY (December 31) is the last day they will be open.
Founder Candace Nelson, who sold the business to private equity in 2012, took to Instagram to speak to the news of the company she started shutting down.
Keep reading to find out more…
“Today is Sprinkles’ final day,” she wrote on Instagram, along with a video message. “As many of you know, I started Sprinkles in 2005 with a KitchenAid mixer and a big idea. Over the years, we expanded across the country and launched the Cupcake ATM.”
“I sold Sprinkles in 2012 and have no ownership or operational involvement in the company,” she continued. “Still, it’s surreal to see this chapter come to a close – and it’s not how I imagined the story would unfold.”
“I’m deeply grateful to the fans, customers, and community who showed up, celebrated with us, and made Sprinkles part of their traditions – and to the team who made it all happen. I’ll always be proud of what we built,” Candace concluded. “Today, my heart is with the Sprinkles employees. 💔”
According to several reports, employees were only given a one day notice that they would be out of a job at the start of the new year.
Per New York Post, the company is closing due to “financial conditions due to unforeseen business circumstances.”
“The wind-down process will be conducted in an orderly manner to address remaining operational obligations and preserve value to the extent practicable,” a notice said.