Christmas Tree Shops Closing All Stores Nationwide This Weekend
The company has announced the last day to shop at its remaining 49 stores.
John Tlumacki/The Boston Globe via Getty Images
Fans of Christmas Tree Shops will need to look elsewhere to fulfill their home decor needs after this week. According to USA Today, Saturday, August 12 will be the "last day" to shop at a remaining Christmas Tree Shops store.
“Going out of business sale final days,” the company announced this week. “Don’t miss your last chance to shop [at] a CTS store.”
The beloved retail chain disclosed in a July court filing that it would default on a $45 million loan and close its 79 stores across 20 states. The news followed the company’s May bankruptcy filing, when it announced that it was shuttering 10 stores in hopes of staying afloat.
John Tlumacki/The Boston Globe via Getty Images
The last few years have been bumpy for the Massachusetts-based company. Christmas Tree Shops was purchased by Bed Bath & Beyond, which filed for bankruptcy in March, in 2003 for $200 million. The chain was sold to Handil Holdings, a private company with hopes of turning business around, in 2020.
Unfortunately, the beloved retailer proved impossible to save.
"The creditors basically said ‘you gave it a shot, it didn't work, now we want our money,’" Christopher Knittel, an economist at MIT, explained to WBZ News. "Add the pandemic, and the growth of Amazon, and a lot of these retail shops, the brick-and-mortar ones, are having a tough time."
The quirky home goods chain started as a small holiday store in Cape Cod in the 1950s. It kept its name after expanding its offerings into “quaint, treasure-filled spaces” for bargain hunters years later. Christmas Tree Shops currently operates 49 stores across 16 states.
Get shopping, y'all!
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