Three months after the company filed for bankruptcy, Christmas Tree Shops announced that it’s last day of business will be Saturday, August 12, after which they will liquidate their assets and close all 72 remaining stores located throughout 20 states.
Until the 12th, Christmas Tree Shops will discount their inventory by up to 80 percent; gift cards and coupons will not be accepted going forward, the retailer said.
The move comes 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 and closed ten underperforming stores.
However, the company eventually defaulted on a loan and, unable to secure a buyer, was forced to convert to chapter 7 bankruptcy liquidation.
Christmas Tree Shops was started 50 years ago in New England.
