Christmas Tree Stores plans to liquidate all of its remaining stores, According to a new report in the Wall Street Journal.
The chain notoriously filed for Chapter 11 bankruptcy earlier this year, with two Massachusetts stores on the initial list for store closings.
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 store is said to be in some 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 began on Cape Cod in the 1950s and is now headquartered in Middleboro, Massachusetts. As of earlier this year, the chain operated 82 stores in 20 states.
The company has been under new ownership since Bed Bath & Beyond sold it in 2020.
The Wall Street Journal says the company defaulted on a $45 million bankruptcy loan, which means that instead of closing only a small number of stores and looking to emerge from bankruptcy in August, they now have to sell all of its remaining 70 stores unless a buyer can. . They may be found within the next week or so.
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