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The Marshalls store at 500 Boylston Street will close in early June after operating for more than 20 years in the Back Bay, TJX Co. officials said on Monday.

The Framingham-based retailer said it would work to offer the store’s 100 employees positions at other area locations.

“We are always assessing and reviewing our real estate strategies, and our decision to close this store reflects that thinking,” Erika Tower, TJX spokesperson, wrote in an e-mail. “The Boston area has been the home for our headquarters for more than 40 years, and continues to be a very important market for us. We are grateful for the loyalty of our Back Bay Marshalls customers, and believe they will continue to find great values at our nearby stores, including Marshalls locations at Downtown Crossing and Fenway as well as a T.J. Maxx on Newbury Street.”

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Competition may be a factor in the store’s closing: The block has become a hub for off-price shoppers, with H&M and Nordstrom Rack just across the street. TJX also opened its T.J. Maxx location on Newbury Street in 2016. Meanwhile, rents along the thoroughfare have continued to climb.

The Boston Business Journal first reported the Marshalls store closing on Monday, which also reported that Wayfair was been floated as a potential replacement tenant at a local real estate event last week. But a spokesperson for the online retailer said the reports about a brick and mortar store were not accurate, and the company is not planning to open anything at the Marshalls location. Wayfair is reportedly looking to occupy 475,000 square feet of office space in the adjoining buildings at 500 Boylston Street and 222 Berkeley Street.


Janelle Nanos can be reached at janelle.nanos@globe.com. Follow her on Twitter @janellenanos.