The nation's oldest standing LGBT bookstore will finally close its doors on May 17 after more than 40 years of serving Philadelphia's LGBT community.

Early last year fall, Giovanni's Room owner Ed Hermance announced that if no buyer came forward to uphold the store's legacy, Hermance would be forced to sell and retire at the age of 73. Hermance has seen the bookstore move from South Street to Spruce before settling on 12th and Pine Streets in the area now known as Gayborhood. 

Three years ago, the store was recognized with a Pennsylvania historic marker documenting a brief history. Hermance has been credited with launching the careers of several authors including Edmund White, E. Lynn Harris and Leslie Feinberg. He attributed the decline of the store to the growing popularity of online book vendors such as Amazon. 

Sad to see another #LGBT #bookstore closing in the U.S. Another loss of important cultural spaces for our community. http://t.co/V0gboGVxR6

— Lawrence Schimel (@lawrenceschimel) April 29, 2014

First Sisters, now Giovanni's Room closing http://t.co/sZb5iEYPjL … Has Philly #Gayborhood outlived its necessity? http://t.co/XSIKIHT6lx …

— Candice Roberts (@askyouranalyst) April 28, 2014

Two years ago, the oldest known LGBT bookstore, Toronto's Glad Day Bookshop, announced that it was putting its store up for sale, after famous stores in New York, Hollywood, D.C. and Nashville closed their doors from 2009 to 2011. 

The bookstores offered more than books that have long been banned for portraying LGBT characters and empowering LGBT authors. The shops provided legal and social resources as well as a welcoming community to those often discriminated against because of their sexual orientation. 

Hermance has not revealed the buyer for the property, but did reveal that money from the sale would be entrusted to the Philadelphia Foundation to be used after his death.