![]() ![]() The company is headquartered in Massachusetts, with the large majority of retail locations in the Northeast, and there is already an order of store closures throughout the state. This timeline could mean that many stores could be closed within just a few weeks. The goal for the company is to get as many stores emptied, with all goods sold, by the end of August. Shoppers can expect to see liquidation sales at their local Christmas Tree Shops starting as soon as July 7. We continue to believe that given its storied history and strong customer loyalty, Christmas Tree Shops has tremendous potential, and we remain committed to the long-term success of the business. ![]() “By increasing our financial flexibility, we will be able to focus on continuing to delight our loyal customers with a wide selection of unique goods at affordable prices. “This is strictly a financial restructuring. “After careful consideration, we determined that availing ourselves of the Chapter 11 process was the best way to address our burdensome liabilities,” said Marc Salkovitz, chairman of Christmas Tree Shops, in the official bankruptcy filing. The company filed for Chapter 11 bankruptcy back in May, and will now be forced to liquidate its inventory in the coming weeks if it doesn't get an investor fast.Īccording to the company, the decision to file for bankruptcy was strictly a financial one, and executives had faith in their efforts to move forward and regain strength. The discount retailer announced it will liquidate all of its 72 brick-and-mortar retail stores after defaulting on its $45 million bankruptcy loan. Photo (c) d3sign - Getty ImagesFollowing in the most recent footsteps of Bed Bath & Beyond and David’s Bridal, Christmas Tree Shops is officially on the chopping block. ![]()
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