Five units of the Dundalk Fire Service battled a blaze that broke out in the Cycle Shop on Clanbrassil Street yesterday morning.
The fire broke out at around 11am and it took the fire service over three hours to get the blaze under control.
The bicycle shop, which is owned by Eamon Begley, was completely gutted in the blaze and large amounts of stock were destroyed.
There are a number of apartments located above the shop but fortunately no one was injured.
Gardaí have launched an investigation although it is believed the fire started accidentally.
Unfortunately there was more bad news this morning as it was reported the fire had spread to the Greenmount Restaurant, run by Michael and Eileen Connolly, in the early hours of the morning.
Members of the fire service were unable to enter the bicycle shop yesterday to ensure all embers were extinguished, as the building was deemed unsafe.
The fire service were called back to the scene twice yesterday to deal with the fire starting up again but unfortunatley it spread to the Greenmount Restaurant next door and caused extensive damage.
Paddy Malone, PRO Dundalk Chamber of Commerce said the fire could not have come at a worse time.
“It is a absolutely terrible thing to happen”, said Paddy.
Clanbrassil Street was closed for most of yesterday but has re-opened today.
“We would like everyone to know that Clanbrassil Street is open and they can come down and shop as per normal.
“All shops are trading apart from those damaged by the fire.”