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Christmas Tree Shops

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business2 years ago

Former Christmas Tree Shops Workers Demand Unpaid Wages and Bonuses

Former employees of Christmas Tree Shops are demanding their final paychecks after the company failed to deliver on payday. The employees, who stayed on during the close-out sales, were promised a bonus for their work but have yet to receive it. The company's lawyers cited a $14 million shortfall in closing sales, leading to bankruptcy and liquidation. A Delaware judge ordered that the employees be paid, but the payments have not been made.

via CBS Boston|
#bankruptcy#business#christmas-tree-shops
business2 years ago

"Christmas Tree Shops: Closure, Unpaid Workers, and Broken Promises"

Christmas Tree Shops, a popular retail chain in New England, has faced financial trouble and recently closed all 49 remaining stores. The company filed for Chapter 11 bankruptcy earlier this year but failed to meet revenue projections during store-closing sales. As a result, a U.S. Bankruptcy Judge converted the bankruptcy to a Chapter 7 liquidation and ordered a court-appointed trustee to ensure that employees are paid for their work. The closure has been described as a "complete breakdown," and the company must now sell off all remaining stores unless a last-minute buyer is found.

via NBC10 Boston|
#bankruptcy#business#chapter-7-liquidation
business2 years ago

Holiday Havoc: Christmas Tree Shops Closing Soon

Multiple Christmas Tree Shops locations in Massachusetts are closing on Sunday as part of the chain's ongoing liquidation process after filing for bankruptcy earlier this year. The Middleboro-based company had hoped to emerge from bankruptcy by shedding some stores, but was unable to replenish inventory, leading to lost sales and the decision to close all remaining 70 stores. The liquidation sale, managed by Hilco Merchant Resources, offers discounts on holiday items, home décor, furniture, and gifts. Some customers have expressed frustration with price changes, but it is legal for liquidators to base discounts on the manufacturer's suggested retail price. The best sales are expected closer to the closing date, although merchandise availability may be limited.

via MassLive.com|
#bankruptcy#business#christmas-tree-shops
business2 years ago

"Christmas Tree Shops Shuts Down Permanently Following Successful Sale"

Christmas Tree Shops, a retail chain operating in 20 states, will permanently close its doors on Sunday after filing for bankruptcy protection in May. The store is hosting a closing sale, offering discounts of at least 30% off storewide on various items. The chain's owner, Handil Holdings, chose to liquidate after failing to find a buyer. Customers are warned to be cautious of online scams using the store's name, as the customer service department has been shut down and gift cards, credits, and coupons are no longer accepted.

via 69News WFMZ-TV|
#bankruptcy-protection#business#christmas-tree-shops
business2 years ago

"Christmas Tree Shops Faces Closure, Urges Customers to Use Gift Cards Before Expiry"

The Lehigh Valley's only Christmas Tree Shops store is holding a going-out-of-business sale, offering discounts of up to 50% off. The store's closure comes after the chain filed for Chapter 11 bankruptcy protection in May and failed to find a buyer. The sale includes all items in the store, with gift cards needing to be used by July 21. The company cited slowing consumer demand and inflation as reasons for its financial struggles.

via 69News WFMZ-TV|
#bankruptcy#business#christmas-tree-shops
business2 years ago

Christmas Tree Shops Faces Layoffs and Store Closures Amid Financial Struggles

Christmas Tree Shops has issued a Worker Adjustment and Retraining Act (WARN) notice, warning of 232 layoffs in Massachusetts by the end of August. The company, which recently lost bankruptcy funding, will be closing all 70 of its remaining locations, including 14 in Massachusetts. The Holyoke Crossing store, which opened in 2021, will also be affected. The filing allows the state to provide assistance to affected workers in finding new jobs or accessing retraining and benefits.

via MassLive.com|
#bankruptcy#business#christmas-tree-shops
business2 years ago

Christmas Tree Shops Faces Closure and Layoffs, Holding Closing Sales and Halting Gift Card Acceptance

Christmas Tree Shops, a popular retail chain known for its variety of products, including kitchen gadgets and furniture, has begun going-out-of-business sales at all of its remaining locations. The Massachusetts-based company is offering up to 50% off on inventory, including holiday decorations, home décor, and furniture. The liquidation comes after the company filed for Chapter 11 bankruptcy earlier this year and defaulted on a $45 million loan. Unless a buyer is found within the next week, all 70 remaining stores will be sold off.

via NBC10 Boston|
#business#christmas-tree-shops#liquidation
business2 years ago

Christmas Tree Shops: Store Closures, Discounts, and Gift Card Expiration

Christmas Tree Shops, a struggling home-goods retailer, has begun a going-out-of-business sale at all remaining store locations after filing for Chapter 11 bankruptcy. Shoppers can enjoy discounts of up to 50% off, with all Christmas and holiday items being 50% off. Select fixtures and equipment will also be available for sale. About 70 stores will close nationwide, including locations in New England. Gift cards will no longer be honored after July 21. The first Christmas Tree Shops location opened in 1970, and the brand expanded across the US before being sold to Handil Holdings in 2020.

via Boston 25 News|
#bankruptcy#business#christmas-tree-shops
business2 years ago

Christmas Tree Shops Faces Bankruptcy and Store Closures

Christmas Tree Shops, which filed for Chapter 11 bankruptcy in May, has announced that it will stop selling and honoring gift cards on July 21, 2023. The troubled business plans to close and liquidate all remaining stores unless a buyer emerges. Creditors terminated a $45 million bankruptcy loan after the company defaulted on the terms due to worsening liquidity and revenues. A hearing in the bankruptcy case is expected to be held on Friday.

via WCVB Boston|
#bankruptcy#business#christmas-tree-shops
business2 years ago

Nationwide Closure of Christmas Tree Shops Leaves Shoppers in Mourning

Christmas Tree Shops, the outdoor furniture and seasonal decor store, is set to close all of its stores nationwide after filing for Chapter 11 bankruptcy. The Massachusetts-based retail chain will liquidate over 70 stores across 20 states due to defaulting on a $45 million loan. Bed Bath & Beyond, which purchased Christmas Tree Shops in 2003, sold the chain to Handil Holdings in 2020. The company currently has one location in Ohio and one in Kentucky.

via The Cincinnati Enquirer|
#bankruptcy#bed-bath-and-beyond#business
business2 years ago

"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.

via WCAX|
#bankruptcy#business#christmas-tree-shops
business2 years ago

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.

via SILive.com|
#bankruptcy#business#christmas-tree-shops