PORTLAND, Ore. – Macy’s will no longer sponsor Portland’s annual holiday parade, the company announced.

The decision to end the sponsorship of the My Macy's Holiday Parade came in light of the closing of Macy’s downtown store in April, a company statement said.

The parade began in 1987 and was sponsored by Meier & Frank. Macy’s has sponsored the parade since 2006.

“We know the Parade was cherished by Portlanders, and Macy’s is grateful to have been able to carry on the tradition for 11 magical years while a part of the downtown Portland community,” said a company statement.

Any future sponsorship of the downtown Portland parade is unclear.