Penn Book Center, one of Philadelphia’s oldest independent bookstores, will close its doors next month. The reason for closing is not surprising: the business has been experiencing losses due to online sales giants, like Amazon, selling textbooks at cut-rate prices.

Penn Book Center was founded in 1962, and current owners – Ashley Montague and Michael Row – purchased the business in 2005. Located on Penn’s campus at 130 S. 34th St., the store carried many books that appealed to students, professors and scholars. 

In recent years, the store has shifted its focus from textbook sales to trade sales, hosting more events and sponsoring book clubs. Last year, the store hosted over 125 events with Imani Perry, Rebecca Traister, Eileen Myles, Carol Anderson, and others. The store also extended its hours.

“We’re really proud of the changes we’ve made,” says Montague. “But, as happy as we are with these changes, they have not generated the sales we need to stay open.”

Currently, the owners are accepting offers from potential buyers, according to Billy Penn.

The store will hold events through the end of May and will begin marking down stock at the end of April.

For more information, visit: www.pennbookcenter.com.