Christmas Tree Shops will be closing all of their remaining locations in the United States and liquidating their stock after the struggling big-box specialty holiday retail chain was unable to pay its bankruptcy lenders.
In May, after its parent company Bed Bath & Beyond went out of business, Christmas Tree Shops filed for Chapter 11 bankruptcy protection. At the time they closed ten underperforming stores.
However, the company eventually defaulted on a loan and as a result, will convert to chapter 7 bankruptcy liquidation if a buyer is not found by July 5. At that time, Christmas Tree Shops will liquidate their assets and close all 72 remaining stores, located throughout 20 states.
Christmas Tree Shops was started 50 years ago in New England.
