SOUTH PORTLAND, Maine — The Bon-Ton department store at the Maine Mall in South Portland will close in August, according to Portland television station WGME, CBS 13.

The 55 store employees who will lose their jobs as a result of the closure will receive severance pay, CBS 13 reported.

Bon-Ton’s departure will vacate a 120,800-square-foot anchor space at the mall previously occupied by the retailer Filene’s, the Portland Press Herald reported. Bon-Ton has been at the Maine Mall for about four years, opening there in 2013.

Steve Byers, executive vice president of stores for The Bon-Ton Stores, Inc., said in a statement that the chain evaluates its store portfolio on an ongoing basis to gauge each location’s long-term viability. Byers said that closing a store is a difficult decision and thanked local customers, as well as employees.

Earlier this year, The Bon-Ton Stores announced companywide losses of $63.4 million in 2016 and plans to close between four and six stores across the country. There are approximately 260 Bon-Ton stores in 25 states.