Christmas Tree Shops to conduct 'going out of business' sales at rest of stores
The retailer previously moved to shutter 10 stores in May
Christmas Tree Shops (CTS) is slated to soon hold liquidation sales at its remaining stores, according to a recent court filing.
The Massachusetts-based home-goods retailer on June 29 filed a notice in the U.S. Bankruptcy Court for the District of Delaware that it had experienced a "termination event" in connection to the order authorizing it to get post-petition financing and other things. The Wall Street Journal reported a default on its $45 million bankruptcy loan had prompted the loan to get terminated.
In the filing, CTS also gave notice that it was "going to conduct going out of business sales" at its remaining stores. The earliest the kick-off of those would take place was Thursday, moves that will reportedly happen unless the company quickly gets a buyer.
A gavel rests on sounding block next to a brass scale of justice in front of a long row of law books on a desk in a law office. Photographed with a very shallow depth of field. (iStock / iStock)
In May, it had previously identified 10 stores that it would close due to underperformance as part of its Chapter 11 bankruptcy proceedings. Those stores were located in Massachusetts, New York, Pennsylvania, Virginia, Michigan, Georgia and Florida.
CHRISTMAS TREE SHOPS FILES FOR BANKRUPTCY, WILL CLOSE SOME STORES
It announced those planned closures May 5, the same day the home-goods retailer revealed it had gone through with submitting a Chapter 11 petition.
At the time, the company had said the target date for exiting bankruptcy was "before the end of August."
In the Chapter 11 filing specifically for Christmas Tree Shops, LLC, the company estimated the $50 million to $100 million range for its assets. Estimated liabilities were reported as $100 million to $500 million, according to the document.
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Handil Holdings has privately owned CTS for a few years. Before that, it belonged to Bed Bath & Beyond.
Bed Bath & Beyond store, Cherry Hill, N.J., Jan. 8, 2023. (Fox News)
Prior to May’s proposed closures, CTS reported having 82 stores in business.
The stores it last week said would hold upcoming liquidation sales included:
- 655 Route 132, Hyannis, Massachusetts
- 425 Main Street, West Dennis, Massachusetts
- Routes 6A and 28, Orleans, Massachusetts
- 99 East Main Road, Middletown, Rhode Island
- 1000 Boston Turnpike, Shrewsbury, Massachusetts
- Route 2, 300 Quaker Lane, Warwick, Rhode Island
- 15 Stockwell Drive, Avon, Massachusetts
- 28-34 Broadway, Rt. 1 South, Lynnfield, Massachusetts
- 120 Hale Road, Manchester, Connecticut
- 92 Cluff Crossing Road Route 28, Salem, New Hampshire
- 50 Holyoke Street PO Box 10177, Holyoke, Massachusetts
- 220 Indian River Road, Orange, Connecticut
- 1505 South Washington Street, North Attleboro, Massachusetts
- 1425 Central Avenue, Albany, New York
- 490 Payne Road, Scarborough, Maine
- 15 Backus Ave., Danbury, Connecticut
- 1298 Worcester Street, Natick, Massachusetts
- 41 Gusabel Ave., Nashua, New Hampshire
- 132 Northern Lights Plaza, North Syracuse, New York
- 100 Cypress Street, Williston, Vermont
- 65 Faunce Corner Road, North Dartmouth, Massachusetts
- 177 Middlesex Ave., Somerville, Massachusetts
- 300 Ikea Drive, Paramus, New Jersey
- 85 Bricktown Way, Staten Island, New York
- 2130 Route 70 West, Cherry Hill, New Jersey
- 100 Trotters Way, Freehold, New Jersey
- 393 North Central Ave., Hartsdale, New York
- 42 Whitten Road, Augusta, Maine
- 790 Jefferson Rd. Rte 252, Rochester, New York
- 4001 Shoppes Blvd., Moosic, Pennsylvania
- 479 Rt. 70 East, Brick, New Jersey
- 5450 Brandywine Parkway, Brandywine, Delaware
- 2935 Concord Road, York, Pennsylvania
- 420 Harry L Drive, Johnson City, New York
- 1895 South Hill Road Rte 9, Poughkeepsie, New York
- 340 Patriots Place, Foxboro, Massachusetts
- 824 Hartford Turnpike, Waterford, Connecticut
- 1584 White Mt. Highway, North Conway, New Hampshire
- 1150 The Arches Circle, Deer Park, New York
- 100 Durgin Lane, Portsmouth, New Hampshire
- 916 Airport Center Drive, Allentown, Pennsylvania
- 1701 Niagara Falls Blvd Suite 500, Amherst, New York
- 4690 High Pointe Blvd., Swatara, Pennsylvania
- 17151 Cole Road, Hagerstown, Maryland
- 2264 Miamisburg Centerville Road, Dayton, Ohio
- 13361 Hall Road, Utica, Michigan
- 1230 N US Hwy 31, Greenwood, Indiana
- 2925 Festival Way, Waldorf, Maryland
- 23869 Eureka Road, Taylor, Michigan
- 5851 North Grape Road, Mishawaka, Indiana
- 230 Consumers Square, Mays Landing, New Jersey
- 365 Route 202/206, Bridgewater, New Jersey
- 327 Mount Hope Avenue, Rockaway, New Jersey
- 1336 Hansel Ave, Florence, Kentucky
- 350 Route 22 West, Springfield, New Jersey
- 1210 Bridford Pkwy East, Greensboro, North Carolina
- 239 Robert C Daniel Pkwy, Augusta, Georgia
- 2088 Interchange Road, Erie, Pennsylvania
- 46 Springer Drive, Bangor, Maine
- 1100 North Galleria Drive, Middletown, New York
- 2053 Skibo Road, Fayetteville, North Carolina
- 1117 Woodruff Road, Greenville, South Carolina
- 9819 West Broad Street, Glen Allen, Virginia
- 130 East Altamonte Drive State Road 436, Altamonte Springs, Florida
- 1791 Old Country Rd CR58, Riverhead, New York
- 1775 Deptford Center Road, Deptford, New Jersey
- 8801-7 Southside Blvd., Jacksonville, Florida
- 19563 Coastal Hwy, Rehoboth Beach, Delaware
- 1728 US Route 46, Woodland Park, New Jersey
- 8020 Mediterranean Drive, Estero, Florida
- 140 University Town Center Drive, Sarasota, Florida
- 39 Holyoke Street, Holyoke, Massachusetts
- 64 Leona Drive, Middleboro, Massachusetts
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