Many couldn’t remember a hot Melbourne summer without a Dairy Bell ice cream to cool down with.

But those days will soon be only a memory, after 44 years, the company has announced it will cease manufacturing at its two factories, in Melbourne and Sydney, on February 27.

Shops in Bundoora, Doncaster, East Malvern, Mitcham and Bayswater North will also close.

Supermarket ice cream wars and increasing costs are blamed for the decision.

“The weekend trade (our best time) made losses due to the high weekend cost of labour in the stores,” a statement from the directors and founders of Dairy Bell Ice Cream said.

“We are solvent and all of our creditors will be paid in full. It is our decision to close.

“Thank you for your support over the years but as the song goes you must know when to hold it and know when to fold it.”

AAP