Toronto’s iconic Hard Rock Cafe in the heart of Toronto is shutting its doors in May after being in business for almost 4 decades. Officials aren’t saying why, but there’s speculation that it can’t afford a rent increase to $2 million dollars at the prime Yonge Dundas location.

The popular tourist destination, one of three in Canada, is looking for a new home. Mark Garner of the downtown Yonge Business Improvement Area says the restaurant became a popular tourist destination for its inventory of music culture in addition to serving food.  Shopper’s Drug Mart is moving into the prime downtown space.