Christmas Tree Shops may soon file for bankruptcy protection
Christmas Trees Shops' footprint spans 80 stores
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A bankruptcy filing may reportedly soon come from Christmas Tree Shops.
The earliest that lawyers for the home-goods retailer, which now goes by CTS, might do so is before the start of next week, according to the Wall Street Journal. The outlet cited anonymous sources on Thursday.
Bed Bath & Beyond sold Christmas Tree Shops, which offers seasonal decorations, furniture and other items, to Handil Holdings in November 2020. The transaction went through roughly a month after it was announced.
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The privately held CTS is led by Pam and Marc Salkovitz via Handil Holdings, per the retailer’s website. FOX Business reached out for comment.
The home-goods retailer’s footprint spans 80 stores located in 20 states. It opened a new location in Sarasota, Florida, in early December, according to a press release from the time.
At the same time Bed Bath & Beyond revealed it would be offloading Christmas Tree Shops, it also unveiled plans to sell its Linen Holdings and a distribution center in New Jersey. Those went to separate buyers.
A customer leaves a Bed Bath & Beyond store in Manhattan, New York City, on June 29, 2022. (Reuters / Andrew Kelly / Reuters Photos)
Bed Bath & Beyond sold Christmas Tree Shops to Handil Holdings in November 2020. (AP Photo / Nam Y. Huh / File / AP Images)
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More than a week ago, Bed Bath & Beyond submitted petitions for Chapter 11 bankruptcy protection. It disclosed on April 25 a delisting notice from Nasdaq that went into effect Wednesday.
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Daniella Genovese contributed to this report.