Christmas Tree Shops Announces Closure of All Stores, Including Iconic Springfield Location

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.