According to a new report in The Wall Street Journal, Christmas Tree Shops plans to close all remaining branches.
The well-known chain filed for Chapter 11 bankruptcy earlier this year, with two Massachusetts stores on the list of initial store closures.
If you’ve lived in New England long enough, you know Christmas Tree Shops is a staple. From kitchen appliances to patio furniture and toys to groceries, the popular Middleboro-based store is reportedly struggling financially.
If you’ve lived in New England long enough, you know that Christmas Tree Shops is a staple, selling everything from kitchen appliances to patio furniture to toys and even groceries.
Christmas Tree Shops was founded on Cape Cod in the 1950’s and is now based in Middleboro, Massachusetts. By the beginning of the year, the chain was operating 82 stores in 20 states.
The company has been under new ownership since being sold by Bed Bath & Beyond in 2020.
According to The Wall Street Journal, the company has defaulted on a $45 million bankruptcy loan. That means that now, rather than just closing a small number of stores and getting out of bankruptcy in August, the company must sell all of its remaining 70 stores unless a buyer can be found within the next week or so.