In this paper, we investigate the continual gravitational collapse of a spherically symmetric radiation shell in five-dimensional Einstein-Gauss-Bonnet gravity. We show that the final fate of such a collapse is an extended and weak curvature naked conical singularity at the centre, which then subsequently becomes covered by an apparent horizon. This process is entirely different from the five dimensional general relativity counterpart, where a strong curvature singularity develops at the centre. Since the singularity in the case of Einstein-Gauss-Bonnet gravity is sufficiently weak, we argue that the spacetime can be extended through it, which gives us an elegant way of constructing regular black holes in higher dimensions without violating any energy conditions. We also extend our study to spacetimes with null and string fluids, which are the counterpart of generalized Vaidya spacetimes in general relativity. We show that similar end states are also possible in those cases. Higher-dimensional spacetimes are then considered.