Toronto’s iconic Hard Rock Café could soon be replaced with a Shopper’s Drug Mart according to a report.

A statement Monday from Hard Rock International, the parent company that runs the restaurant chain, says the lease for the restaurant at Yonge-Dundas Square will be up in May and the company is “reviewing other opportunities.”

“Since opening the doors of the world’s second Hard Rock Cafe in Toronto in 1978, Hard Rock International has been and continues to be committed to a strong brand presence in Canada,” the company said a in a statement to CP24.

The statement acknowledged that the lease was ending on the Yonge Street space downtown, but remained vague on whether the restaurant would move to a new home within the city.

“Hard Rock International is reviewing other opportunities, both in Toronto and elsewhere in Canada, to expand its Cafe, Hotel and Casinos brands,” the statement read.

In the meantime, the company encouraged people to visit its other Canadian properties in Niagara Falls and Vancouver.

An article published in Retail Insider Monday quotes sources as saying the three-level, 22,000 square foot property has already been leased to Shopper’s Drug Mart for $2 million per year – double the rent that Hard Rock International was paying.

The theme restaurant, which features rock memorabilia, merchandise and live performances, has graced the space on Yonge Street since 1978.