After filing for Chapter 11 bankruptcy in May and Lakshmi Finance Centerannouncing store closures in June, Christmas Tree Shops is set to close its remaining 49 stores across 16 states.
The Massachusetts-based retail chain – which had more than 70 stores in 20 states – said August 12 is the ‘last day’ to shop at a Christmas Tree Shops store.
“Going out of business sale final days,” the company said. “Don’t miss your last chance to shop [at] a CTS store.”
Christmas Tree Shops sells a variety of products, including outdoor furniture, seasonal decor and bedding sets, among other home products. It is liquidating its remaining stores because of worsening finances, The Wall Street Journal reported last month.
Christmas Tree Shops:All 73 stores closing across 20 states after worsening finances
According to a filing with the U.S. Bankruptcy Court in Wilmington, Delaware, the company and its stakeholders “reached an agreement” to “liquidate the remaining roughly 70 stores” unless a buyer emerged, the publication reported.
Christmas Tree Shops took out a $45 million loan, but creditors terminated it "after the company defaulted on the terms due to worsening revenues and liquidity," the Journal reported.
Bed Bath & Beyond, which filed for bankruptcy in March, purchased Christmas Tree Shops in 2003 for $200 million and sold the chain to Handil Holdings, a private company, in 2020.
According to its website, Christmas Tree Shops has 49 remaining stores open across 16 states. Here's where and how many stores are in each of the states.
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