After filing for Chapter 11 bankruptcy in May, Christmas Tree Shops will now close all of its stores unless it can find a last minute buyer.
The Massachusetts-based retail chain – which has more than 70 stores across 20 states and sells a variety of products including outdoor furniture, seasonal decor, bedding sets and more – is liquidating its remaining stores because of worsening finances, The Wall Street Journal reported.
According to a filing with the U.S. Bankruptcy Court in Wilmington, Delaware, last week, the company and its stakeholders have “reached an agreement this week to liquidate the remaining roughly 70 stores unless a buyer emerges within the next week or so,” the publication reported.
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