GoodGood, the Toronto cafe and boutique grocer offering specialty local products, has just announced the closure of all five of their downtown locations, effective immediately.

The burgeoning startup expanded quickly in the city, launching online in late 2021 and growing to take over well-branded, well-stocked and welcoming storefronts at Queen and Bathurst, St. Clair and Dufferin, Adelaide and Spadina, on the Esplanade near the St. Lawrence Market and, most recently, at Yonge and Davisville.

Formed by Robert Kim and Kris Linney — co-founder and former senior director of partnerships, respectively, at food ordering app Ritual — GoodGood's ethos was about spreading awareness of, and access to, high-quality Toronto-made products in-store and for delivery.

The duo broke their sad news to the public early in the evening on Sunday, which had been the last day of operation for all stores, unbeknownst to most customers.

"Today, we are sharing the difficult news that GoodGood will cease operations," the owners wrote to the store's 5.5k Instagram followers around 6 p.m.

"We'd like to extend a heartfelt thank you to our community. It has been a privilege to have been a small part of your life. We could not have been more grateful for your support."

The four-slide post goes on to explain what led to the sudden shuttering of the business; largely an "extremely ambitious vision" that was not exactly favoured by the current troubling economic landscape, and an eventual lack of enough capital to "continue to bring our vision to life."

"The economic realities of rising interest rates, inflation, and a looming recession — factors that weren't a reality when we began this journey — have had a dramatic impact on our business," it reads.

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The retailer's stock ranged from things like pizzas from General Assembly (either frozen to take home or cooked for dine-in), frozen treats from brands like Honey's Ice Cream, craft beer and seltzers from breweries like Left Field and Bellwoods, and a huge selection of wine, non-alcoholic drinks, food and snacks that were hard to find elsewhere, and more.

GoodGood was equal parts premium convenience store and cafe, with handcrafted coffee beverages made with Pilot espresso, Pluck tea, baked goods (from locals like Tori's Bakeshop), and a small in-house food menu that, like the beers and ciders on tap and in the numerous fridges, were available to enjoy in-house.

Though the company and its winky-face logo may not have been tenured enough to be recognizable to everyone in the city just yet, the cafes were often bustling with regulars who had made it their go-to for their daily takeout coffee ($1 for drip and $3 for espresso drinks every day for app members), for a drink as they worked on their laptops, or a pit stop for wine and treats.

In just two hours, GoodGood's farewell post racked up more than 200 comments and 650 likes from fans who are sad to see it go and are hoping for some type of comeback in the future.

Those who were in the know were lucky enough to benefit from a huge sale of 50 per cent off all purchases over $50 this past weekend, which was billed as an early Black Friday sale, but may have given some idea that something was up.

GoodGood's owners encourage any similar businesses who are hiring to reach out so they can connect them with the passionate and dedicated members of their retail team.