The iconic Lambert Puppet Theatre in Dublin is set to close.
The theatre, which is located in Monkstown, was established in 1972.
It's said to be the country's "only purpose-built puppet theatre", with a 250-capacity auditorium.
However, it was confirmed today that the theatre will now close its doors.
It is with great sadness that I'm announcing the closure of The Lambert Puppet Theatre. I'd like to thank everyone that has worked with us and supported us over the years. - Liam pic.twitter.com/IJWmGUYy6d
— LambertPuppetTheatre (@LambertPuppet) September 5, 2018
Liam Lambert, director of the theatre, told Newstalk's Henry McKean: "It's one of the most difficult decisions I've ever had to make, but it was really forced upon me by financial circumstances.
"If I didn't close the theatre, the company would have to go - and that'd mean the performances would have to stop."
He added: "The live performances are very, very important to me... especially these days, when children have iPads and all of that. To continue doing live performances is really where the future of this is."
Watch: An emotional Liam Lambert explains why @LambertPuppet is closing. ‘A decision I had to make.’ Hear the full interview on @IvanYatesNT @NewstalkFM from 4pm. @boscosbox pic.twitter.com/Zc0jUu0t31
— Henry McKean (@HenryMcKean) September 5, 2018
It's now hoped the company can continue with touring shows.
As well as the theatre, the Lambert company is known for its work on beloved characters such as Bosco and Judge from Wanderly Wagon.
The theatre itself was badly damaged in a fire in 2015, with many of the company's puppets destroyed in the blaze.
Bosco: 'I'm not homeless I'm very happy in my box & I will always have my box.' & announces a tour. Behind the scenes @LambertPuppet Theatre, find out how the puppets became family to Liam Lambert & why it's closing for the last time. @boscosbox @IvanYatesNT @NewstalkFM 4pm. pic.twitter.com/dA14oXKtQQ
— Henry McKean (@HenryMcKean) September 5, 2018