Christmas Tree Shops to Liquidate All Stores

Christmas Tree Shops, a Massachusetts-based home goods retailer, is planning to liquidate all of its stores. The company filed for Chapter 11 bankruptcy in May, and had hoped to close only 10 underperforming stores. However, the company defaulted on its $45 million loan last week, and is now expected to liquidate all of its 72 stores unless a buyer emerges within the next week.

Christmas Tree Shops began as a holiday boutique in Cape Cod in the 1950s. The company grew to operate 82 stores in 20 states before filing for bankruptcy. Over the past few months, 10 stores have shuttered in seven states.

The liquidation of Christmas Tree Shops is another sign of the challenges facing the retail industry. The sector has been hit hard by the rise of online shopping, and many retailers have been forced to close stores or file for bankruptcy.

It remains to be seen whether a buyer will emerge for Christmas Tree Shops. If not, the liquidation of the company will result in the loss of hundreds of jobs.

Here are some additional details about the liquidation:

• The liquidation sales are expected to begin in the next few days.
• The sales will be held at all of the company’s remaining stores.
• The company is offering discounts of up to 70% off on merchandise.
• The liquidation sales are expected to last for several weeks.

The liquidation of Christmas Tree Shops is a significant event for the retail industry. The company was a well-known brand, and its closure will leave a void in the market. It remains to be seen whether another retailer will emerge to fill the void.