It’s not a very happy time for Christmas Tree Shops.
The discount store chain known for selling home goods and, of course, Christmas decorations, is set to liquidate its remaining 70 locations and go out of business.
The news, that The Wall Street Journal it was first reported after the brand filed for Chapter 11 bankruptcy in May and took out a $45 million loan to revamp the company. However, the loan was terminated after the Christmas tree stores defaulted on payments following continued sales declines, according to a U.S. Bankruptcy Court filing obtained by the outlet.
Will liquidate all remaining stores, unless a buyer drops by at the last minute.
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“Unfortunately, circumstances have meant that the plan cannot go ahead because, quite simply, the debtor does not have the time or money to go ahead with the plan,” an attorney for the retailer, Harold Murphy, said during court. audition
People took to Twitter to share their feelings about the closing and even suggested some potential buyers who can save the brand.
I’m so mad they’re closing Christmas tree stores and bed bath and beyond. These people were kind enough to come back after the pandemic and work while I had to wear a mask. I wish someone could save these stores and the dedicated people who work there.
– Diane Beland (@labladydi1953) July 5, 2023
@tjmaxx any interest in buying Christmas tree shops?? Someone needs to save this beloved store #savechristmastreeshops
— Erica DiFalco Wynimko (@DifalcoErica) July 5, 2023
@elonmusk Hi, are you interested in buying The Christmas Tree Shops? They are desperate!
—Shari (@ShariArcuri) July 4, 2023
The Christmas Tree Shops is owned by Handil Holdings, LLC after purchasing the chain from Bed Bath & Beyond, which is also in liquidation, in 2020. It reportedly originated as a store on Cape Cod in the 1950s . NPRbefore expanding to 82 locations across the country at its peak.
At the moment it is not known when the Christmas tree shops will close for good.
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