In a devastating blow to businessman Herman Cain's presidential ambitions, the American Mustache Institute--a group which had previously lavished rapturous praise on the former Godfather's Pizza CEO--announced it was rescinding its official endorsement of the GOP field's only mustachioed candidate.

In withdrawing its endorsement, the group cited recent allegations made against Cain, including their own tongue-in-cheek accusations: That the advertising at Godfather's Pizza was misleading and that his mustache could be a fake. (Unlike Ron Paul's eyebrows, Cain's mustache is, in fact, real.)

"Amid a storm of allegations levied against Herman Cain, the American Mustache Institute today announced it had rescinded its endorsement for his presidential candidacy," the organization, a nonprofit charity and "the world's leading facial hair advocacy organization," announced in a statement Wednesday. "[M]embers of the AMI administration said they could not in good conscience support his candidacy on behalf of the powerful Mustached American electorate."

The mustached community first turned to Cain in October after after former U.N. Ambassador John Bolton--a grand mustache wearer in his own right--announced he would not seek the nomination. The institute vowed at the time that Cain could "feel comfort in knowing he has the support of the American Mustache Institute and Mustached American community overall."

The group even nominated Cain for the coveted "Robert Goulet Memorial Mustached American of the Year Award," touting his candidacy as "a shining beacon of freedom and hope for people Mustached American heritage everywhere." No word as yet about how the charges levied against Cain may hinder his shot at the Goulet prize.

More popular Yahoo! News stories:

Want more of our best political stories? Visit The Ticket or connect with us on Facebook and follow us on Twitter.