Bon-Ton has filed for bankruptcy protection as the company’s brick-and-mortar business has been on the decline in recent years.

The retailer said it filed for Chapter 11 in order to restructure its debt and determine whether or not it can reach a sale with another party. Bon-Ton is the first major U.S. brick-and-mortar retailer to file for bankruptcy in 2018.

The announcement is unsurprising as many brick-and-mortar operators have been struggling in the U.S. due to the meteoric rise of the e-commerce industry over the last decade or so. Bon-Ton is mostly located in malls, which have seen a decline in foot traffic over that span.

The retailer has stores located across the U.S. Northeast, Midwest and Great Plains in a total of 26 states, selling under sub-brands such as Bon-Ton, Younkers and Bergner’s. The company used to be a popular retailer to visit for locals in these areas.

Bon-Ton revealed that the company has received a commitment of up to $725 million in debtor-in-possession financing from its existing lenders to help keep the company in business until it can successfully revamp its business plan.

The company — which has its headquarters in York, Pennsylvania — has about 260 stores with assets listed in the range of $50,001 and $100,000, while its liabilities are in the range of $500 million to $1 billion, according to the Chapter 11 filing with the Delaware bankruptcy court.