Follow KDKA-TV: Facebook | Twitter

PITTSBURGH (KDKA) — A hangout that University of Pittsburgh students and alumni know well is closing after more than 40 years in business.

Peter’s Pub in Oakland will shut down next Friday, May 25.

peters pub Long Time Hangout For Pitt Students Closing Its Doors

(Photo Credit: KDKA)

The family that owns the business posted the news on Facebook, saying they are retiring.

The message to their customers and friends reads, in part:

“Together we have made a beautiful thing. Friendships were made and memories created. In this most important way we have accomplished what we set out to do 44 years ago. While we deeply regret that we cannot continue to do what we love, with an amazing team that has become our family, we will move forward with the warm memories we made with each other and all of you.”

Peter’s Pub opened in 1974.

A celebration with half-price food and drinks will be held on its last day.