"Christmas Tree Shops Announces Closure of All 70 Stores"

Christmas Tree Shops, a discount home goods retailer, will be closing all 70 of its stores after filing for bankruptcy in May. The company, which was sold off by Bed Bath and Beyond in 2020, has struggled to improve sales and defaulted on a $45 million loan. The closure comes as online sellers like Amazon dominate the market and financial concerns lead U.S. shoppers to cut back on spending. The timeline for store closures and any possible liquidation sale has not been announced.