Retail chain Christmas Tree Shops plans to liquidate all of its stores in the United States unless a buyer emerges soon, the Wall Street Journal reported.
The Middleborough, Massachusetts-based company filed for bankruptcy in May and took out a $45 million loan to keep its 82 stores in 20 states operating, according to the WSJ. The chain defaulted on the loan, and now the stores – including four in Connecticut – are slated to close.
There are four Christmas Tree Shops in Connecticut:
- 220 Indian River Road in Orange
- 120 Hale Road in Manchester
- 15 Backus Avenue, Suite 42 in Danbury
- 824 Hartford Turnpike in Waterford
Qualified bids from potential buyers must be submitted by July 16. An auction is set for July 19, according to bankruptcy court documents.
Christmas Tree Shops was owned by Bed Bath & Beyond, now also bankrupt, until 2020 when it was acquired by Handil Holdings.
