Martha Stewart (left) and Bethenny Frankel
02/14/2014 AT 12:05 PM EST
can still do plenty of talking – just not on her own show.
, the eponymous talk show hosted by the former reality star, has been canceled, PEOPLE has confirmed. Deadline.com reports
low ratings doomed the show, although it appears she'll be ending her run in May on excellent terms.
"I had a blast doing this show with Telepictures," she says in a statement. "My entire staff worked so hard and made every day so much fun. I am thankful for the experience and for all my fans who tuned in every day."
Her production company echoed the warm sentiments. "While we are disappointed not to be able to bring the series back for a second season, we remain convinced that Bethenny has a unique voice and that she will continue to be successful in the future," said a Telepictures rep.
The Skinnygirl mogul, 43, rocketed to fame in 2008 as a star on The Real Housewives of New York
. Her ambitious, straight-talking style connected with viewers and led to her own spinoff show, Bethenny Ever After
, in 2011.
The Bravo series chronicled her first year parenting daughter Bryn
, now 3, and her new marriage to Jason Hoppy. The two split
last year and Frankel has been recently linked
to financier Michael A. Cerussi III.
launched last fall after a test run in the summer, and was plagued by low ratings and some negative feedback
from critics. Yet despite this latest professional setback, an inside source does not expect the self-made star to flounder.
"She's a fighter," the source tells PEOPLE. "She'll continue to grow, focus on her brands and work on growing her empire."