PHILADELPHIA: Nation's Oldest LGBT Bookstore, Giovanni's Room, Is Closing

The nation's oldest LGBT bookstore, Giovanni's Room, will close on May 17th. Via Philadelphia Gay News:

Ed Hermance, who has owned the store for 38 years, announced his plans for retirement in the fall, planning to sell both the business and the two buildings it encompasses. He announced a potential sale agreement several weeks ago, but told PGN this week the buyer could not come up with enough money to finalize the sale. Hermance said he made the difficult decision to close the store several days ago. Since the beginning of the year, Hermance said he had lost between $10,000-$15,000 in keeping Giovanni's Room open.

Hermance blames Amazon: "The government is allowing Amazon to tighten their fingers around the throats of the publishers and drive their retail competitors out of the business by clearly monopolistic methods."