Capogiro, the coffee and gelato shop located at 3925 Walnut St., will close at the end of the month, according to a report in The Philadelphia Inquirer.
In a story published Thursday on the site, Eater Philadelphia, Capogiro's Director of Sales and Marketing Kristy Jo Gilboy said, “The space is too large for what we would like to do.”
The gelateria has been open for eight years.
In the Inquirer piece, Capogiro Co-Owner Stephanie Reitano attributed the shop's closing to high rents and local competition. The Inquirer noted that Capogiro is a tenant of The Radian Apartments, not the University.
Capogiro was not immediately available for comment, but the store noted on its Facebook page, "One door might be closing but we are excited for the road ahead!"
The shop has four other locations, in addition to Capofitto in Old City which also serves pizza. Its branch at 119 South 13th St. opened in December 2003, according to the Inquirer.
All of these locations will remain open despite the closure of the Penn location.
The Inquirer said Capogiro is seeking a new space, and Eater Philadelphia added that the company’s future plans involve becoming “leaner and meaner” in smaller locations such as those at 13th and 20th streets.
The closure of Capogiro comes after a series of other eateries on campus announced their closures, the most recent being Mad Mex at 3401 Walnut St. On Sept. 27, the restaurant announced on a Facebook post that they had decided to shut down their branch at University City after closing for renovations.
Earlier this year, the Italian restaurant, Penne, also announced its closure after the University announced that six other campus eateries — Quiznos, Pizza Hut, Taco Bell, Mediterranean Cafe and Nom Nom Ramen — would close by the end of June.