Popular Home Goods Retailer Closing All Stores In The U.S.
By Bill Galluccio
July 5, 2023
Christmas Tree Shops is closing all of its stores in the United States in the coming weeks. The retailer filed for Chapter 11 bankruptcy in May, hoping to restructure and save the 53-year-old business.
When Christmas Tree Shops was founded in the 1950s in Cape Cod, Massachusetts, it was just a tiny store selling Christmas-themed items. As its popularity grew, it expanded and began offering a wide variety of unique home goods items.
The retailer was eventually bought by Bed Bath & Beyond. However, as Bed Bath & Beyond began to struggle financially, it sold Christmas Tree Shops in 2020. Last year, the company announced plans to expand and changed its name to CTS over concerns that consumers thought they only sold Christmas trees.
Unfortunately, Christmas Tree Shops struggled as sales plummeted. After defaulting on a $45 million loan, the retailer decided to close up and announced that all 70 locations in the United States would be shutting down in the next few weeks.
The company said that liquidation sales will begin this week.