Milo’s, a well-loved speciality coffee shop on Drumcondra Road, held its last day of trading on October 4.
The business is the second coffee shop venture by Two Boys Brew, having opened in 2021.
However, the business owners, Taurean Coughlan and Kevin Roche took to Instagram to announce the sad news.
“Goodbye Milo’s,” the statement said.
“When we first stepped inside the space that became Milo’s back in 2021, we could tell it was going to be a special place.
“There was a great energy in the room, and instantly our imaginations went into overdrive, thinking about how we wanted the space to look and feel.
“We were a little naïve looking back, discovering that the unit needed a hell of a lot more renovation work than we had hoped, but with lots of support from you guys, we finally got those lovely new doors open the following year.
“Not the best start, but we rolled with it and ploughed on.
“Like with Two Boys Brew over eight years ago, we planned every inch of the place ourselves, and when those doors did open, it was well worth it; you guys showered us with such love and generosity, we soon recovered from those many sleepless nights!
“It’s no secret that the hospitality industry, for businesses big or small, continues to go through a rough time, to say the least.
“There are so many elements of our industry out of balance at the moment, and not making much sense.
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“From the continuing rise in costs for ingredients and products to the ridiculous heights of monthly bills.
“Small waves of relief do come and go, but it’s not enough; there’s a very vicious cycle at play at the moment, and we can only hope that someone with enough power in our government steps up and starts to be realistic soon!
“These constant hurdles and various current economic factors are a very real and serious part of the day-to-day running of our business, but on a positive note, we are extremely grateful to be able to say that Milo’s has been, and Two Boys Brew continues to be, a very strong business.
“That said, we’re announcing a big decision – our last day trading at Milo’s is October 4, 2024,” they added.
The owners explained they don’t want to “lose their passion” and, after much thought, have decided to “pare it back” to just operating Two Boys Brew.
The news comes as another blow to the city’s independent hospitality industry, with celebrity chef Dylan McGrath announcing the immediate closure of his two restaurants, Brasserie Sixty6 and Rustic Stone, back in August.
Another closure followed soon after, when the popular Dublin dining spot and karaoke bar Ukiyo shut its doors.
More recently, at the end of September, Blazing Salads announced its closure after being in business for 37 years.
The Restaurants Association of Ireland (RAI) has been campaigning for increased support for hospitality businesses, with an average of “two restaurants, cafés, and other food-led businesses continuing to close each day” across the country.
According to the RAI, since last September, 577 food-led businesses have been “forced to close their doors for good”.
It blamed the rise in the VAT rate from 9pc to 13.5pc, which has left food-led hospitality businesses facing a “decision to either erode their competitiveness or take a 4.5pc hit to the bottom line” at a time when energy and food costs have already “exploded”.
