Global Village Backpackers, the management company which ran an iconic downtown Toronto hostel, closed its doors Monday.

Along with the closure of the company came the closure of its popular hostel located in a bright blue building on the corner of King and Spadina since 1977. Before that, the building was the location of the Spadina Hotel.

The management company announced the closure on Facebook over the weekend, writing, “Unfortunately...due to extreme unforeseen circumstances we will be closing our doors as Global Village Backpackers.”

The post added, “Thank you to everyone who has made this place the icon it is today - We love you all, and as individuals we wish it wasn't ending so soon!”

The company also ran a hostel in Kensington Market, called Global Village Backpackers Kensington. Farhan Abbas, the owner of the Kensington property, said that location will continue to run as a hostel and that there is interim management currently in place.

Richard McCarron, the manager of Global Village Backpackers, passed away in December. Abbas said the management duties for the company were left to McCarron’s wife, who lives in Ottawa. She could not be reached for comment.

“It’s a shame,” said Abbas. “I don’t know what happened.”

Former staff members and visitors have taken to social media to remember the hostel. A top comment on the Facebook page comes from a former employee, who wrote, “Honestly the best place I have ever worked, a true staff/family environment.”

The management recommended on Facebook that anybody with reservations for the hostel make alternate arrangements or seek a refund.