Christmas Tree Shops Faces Liquidation, Closing All Stores

Christmas Tree Shops, a retail chain based in Middleboro, Massachusetts, has until July 5 to find a buyer or it will be forced to begin liquidating and closing its remaining stores. The company had filed for Chapter 11 bankruptcy protection in May to restructure its obligations and reorganize its business. Despite efforts to secure a capital infusion or sale, the company defaulted on its lenders, who have agreed to continue funding until July 5 to pursue a going concern sale. If a sale is not achieved, the company will engage in an orderly liquidation, resulting in the closure of its offices and distribution center and layoffs of its employees.