Christmas Tree Shops will liquidate its assets and close all 72 remaining stores across 20 states.
Christmas Tree Stores will close all of its remaining U.S. stores and liquidate inventory after the struggling large specialty holiday retail chain was unable to repay its bankruptcy loans.
The Christmas tree store filed for Chapter 11 bankruptcy protection in May following the collapse of its parent company, Bed Bath & Beyond. At the time they closed ten underperforming stores.
However, the company eventually defaulted on the loan, so if it doesn’t find a buyer by July 5, the company will move into Chapter 7 bankruptcy. At that point, Christmas tree shops will liquidate their assets and close locations across 20 states.
Christmas tree shops were established in New England 50 years ago.
