Christmas Tree Shops plans 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 first store closing list.
If you’ve lived in New England long enough, you know that Christmas tree shops are a staple. From kitchenware, to outdoor furniture, toys and even food, the popular Middleboro-based store is reportedly in financial trouble.
If you’ve lived in New England long enough, you know that Christmas tree shops are a staple, selling everything from kitchenware, to outdoor furniture, to toys, and even food.
Christmas Tree Shops started on Cape Cod in the 1950s and is now based in Middleboro, Massachusetts. Until earlier this year, the chain operated 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 in August, it must now sell off all of its remaining 70 stores with unless a buyer can be found in the next week or so.