Hundreds of childcare providers are set to close their doors in the coming year.

According to reports, they are closing due to a lack of funding.

It is believed the current funding offered by the Government isn’t enough to keep them afloat.

Speaking to Newstalk, the Federation of Early Childhood Providers revealed at least 5.5% are planning on closing.

The news has left parents feeling more stressed than ever as places are few and far between, especially in Dublin.

7.5% of early childcare providers also revealed their plans to close.

A shocking 260 facilities could close their doors by 2023, experts warned.

FECP Chair Elaine Dunne said some facilities are barely staying afloat.

Smaller facilities are barely breaking even.

She explained that they’re barely getting anything out of staying open at the moment.

Many childcare workers are feeling very let down by the government.

“A lot of these service providers are just feeling very deflated,” she revealed.

The concerning news comes as parents struggle to find childcare places for their children.

Last month, it was revealed that thousands of parents could be without childcare come Autumn 2022.

Thousands of parents across Ireland could face an autumn without childcare, as Early Childcare and Education (ECCE) service providers face closure, they say, as a result of a new Government proposal for Core Funding supports, due to come into play on September 1st next.

70% of FECP members surveyed reported that having examined the viability of the core funding allocation to their service, they were not happy they could sustain their business.

Not only are parents facing shortages, but those who are lucky enough to find a place for their child will have to deal with a rise in costs.

It is believed fees will increase due to current inflation levels.