Christmas Tree Shops Announces Closure of All Stores, Including Iconic Springfield Location
TL;DR
Christmas Tree Shops, owned by Handil Holdings, is expected to close all of its remaining stores, including the Staten Island location, after defaulting on a loan as part of its bankruptcy deal. The company filed for Chapter 11 bankruptcy in May and closed 10 stores to reduce debt. However, it defaulted on a $45 million loan, leading to a likely liquidation process unless a last-minute buyer is found. The chain currently operates 70 stores in 20 states, and liquidation sales could begin as early as this week.
Topics:top-newsbusiness#bankruptcy#business#christmas-tree-shops#financial-restructuring#liquidation#store-closures
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