NATICK (CBS) – The American Girl store at the Natick Mall, the only one in the Boston area, is closing.

The store, which opened in November 2008, will shut down March 20, the company said in a statement. American Girl will also close it’s store in the Mall of America in Bloomington, Minnesota on the same day.

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The company said 73 full and part-time employees will lose their jobs at the Natick store.

The American Girl store at the Natick Mall. (Photo credit: Nick Caloway – WBZ-TV)

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“It has been our privilege to serve these communities for more than a decade, and we thank our loyal customers for their patronage and look forward to continuing our valued relationship with them,” Wade Opland, Vice President of Retail for American Girl, said in the statement.

“While decisions that impact our associates, our customers, and the community are always difficult, the closures are a necessary step to improve the overall health of our business and reinvest in key areas of growth.”

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American Girl will continue to operate 17 other stores across the country. The closest one to New England will now be in New York City.