Sprinkles Cupcakes founder confirms bakery chain is closing permanently

The popular bakery chain Sprinkles Cupcakes, which was known for its storefronts and "cupcake ATMs," is permanently closing all locations, according to its founder and former owner.

In a post to Instagram, Candace Nelson confirmed the rumors, saying she didn't think this was how the Sprinkles story would end after selling the company to a private equity group in 2014.

"I thought Sprinkles would keep growing and be around forever," Nelson said. "I thought it was going to be my legacy."

Nelson started the company in 2005 with the first location in Beverly Hills. It expanded to several states across the U.S. and opened at least nine locations in California, as well as 10 ATM vending machines.

As of Wednesday afternoon, the current ownership hasn't commented on the closures.

Nelson stated that the closures would begin immediately.