STATEN ISLAND, NY — Discount retailer Christmas Tree Shops — where you can buy a variety of household products from dishes and pots to Christmas decorations — filed for bankruptcy on Friday, according to published reports.
The Wall Street Journal on Friday reported the Chapter 11 bankruptcy filing of the legendary US business once owned by Bed, Bath & Beyond, which is closing all of its businesses after filing its own bankruptcy.
Christmas Tree Shops, a longtime New England retailer based in Middleboro, Mass. with stores across the country — including one on Staten Island in Charleston’s Bricktown Center — is known for its slogan, “Don’t you just love one.” Bargain?”
With about 80 East Coast stores, the retailer was rebranded as CTS last year as some consumers assumed the chain only sold Christmas trees. It’s not yet known how the Chapter 11 bankruptcy will affect Christmas Tree Shops’ businesses.
The news follows a trend of major retailers closing and bankruptcy filing, initially fueled by the popularity of online shopping and most recently exacerbated by the coronavirus (COVID-19) pandemic.
This has resulted in a plethora of vacant retail locations across the borough, including the former Toys R Us in New Springville and the former Shop Rite at 2424 Hylan Blvd., which has moved to the new Boulevard mall.
These retailers are also closing locations on Staten Island:
bed bath beyond
Bed Bath & Beyond, a half-century-old company that once operated 1,500 stores across the United States, including two stores on Staten Island, announced that it will open its doors on March 23.
Founded in New Jersey in 1971, the big box chain quickly became an anchor for suburban malls across the country but struggled in the wake of the coronavirus (COVID-19) pandemic. As a result, the Charleston location closed in 2020.
The company announced an aggressive store closure and layoff plan in late August — a business reorganization aimed at boosting sales and profits — and the last remaining Staten Island store closed in December.
party town
Party City, one of the nation’s largest suppliers of balloons, decorations and other special-occasion merchandise, filed for Chapter 11 bankruptcy in January after struggling with rising prices and falling consumer spending.
The company, which currently has three stores on Staten Island, then began announcing store closures. Clearance and “Closing Time” signs were put up at the New Dorp store in April.
staples
This office supermarket cut its fleet extensively a few years ago, closing more than 200 stores ahead of 2020, including its Forest Avenue location in Port Richmond, which closed in 2017 and was replaced by a Target.
The Staten Island market fell again in March when the brand announced it was closing its New Springville store, which shares a parking lot with Dick’s Sporting Goods, Starbucks and the Vitamin Shoppe.
MORE NEWS
What will happen to Staten Island’s vacant storefronts as major chain stores continue to close?
The last remaining Bed Bath & Beyond on Staten Island is closing permanently
Walmart, Target and more: A look at large-scale store closures and a shrinking retail landscape
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