We may soon see the end of a beloved New England institution — Christmas Tree Shops will liquidate all of its remaining stores unless a new buyer is found, according to a report.
Christmas Tree Shops is planning to liquidate all of its remaining stores, according to a new report in the Wall Street Journal.
The well known chain filed for Chapter 11 bankruptcy earlier this year, with two Massachusetts stores included on the initial store closure list.
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If you've lived in New England long enough, you know that Christmas Tree Shops is a staple, selling everything from kitchen gadgets, to outdoor furniture, to toys and even food.
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Christmas Tree Shops started on Cape Cod in the 1950s, and is now based in Middleboro, Massachusetts. Until earlier this year, the chain ran 82 stores in 20 states.
The company has been under new ownership since Bed Bath & Beyond sold them in 2020.
The Wall Street Journal says the company defaulted on a $45 million bankruptcy loan, meaning that instead of closing just a small number of stores and looking to emerge from bankruptcy this August they now have to sell off all of its remaining 70 stores unless a buyer can be found within the next week or so.
