Sad, but almost inevitable news. Philly Gay News reports that Giovanni’s Room, Philly’s only LGBT bookstore, will close its doors on May 17th.

[Longtime owner Ed] 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 said there is a possibility that Giovanni’s Room could be resurrected in some form, but said ideas would have to change in order for it to be successful.

“Whatever it is that they do, it will have to be something different than what we are doing now. If won’t survive if it isn’t different,” he said.

The store, at the corner of Pine and 12th streets, has an inventory of more than 48,000 books and also offers five million books online and 3.5 million eBooks.

Hermance had been hoping to sell the business for $100,000 and the buildings for up to $750,000.