The Massachusetts-based Christmas Tree Stores, which filed for Chapter 11 bankruptcy in May, is giving customers two weeks to spend any remaining gift cards. A document filed with the US Bankruptcy Court for the District of Delaware states that the chain “will cease selling and honoring gift cards on July 21, 2023.” The struggling business plans to notify customers of the deadline, which begins Friday, through in-store banners and a notice on the company’s website. In addition, the company hired to manage the liquidation of all remaining Christmas tree stores announced Friday that Going Out of Business sales have begun nationwide. They said the sale would offer discounts of up to 50% off the lowest signed prices on merchandise and that new items would hit the sites during the sale. At least one objection has been made to the plan. The Lynnfield Plaza Realty Trust trustees told the court that they did not want to allow any liquidation sale until the Christmas Tree Stores had paid the rent that was due on July 1. At a Friday morning hearing in federal bankruptcy court in Delaware, the company was given a few more days to find additional investors in a last-ditch effort to save the company. They have until 1 p.m. on Wednesday, when the case is scheduled to go back to court. Christmas Tree Stores has notified the state and town of Middleboro that all 232 workers at the company’s headquarters and distribution center are likely to lose their jobs sooner. “The letter I had (Thursday), I’ve never read anything like it, you know? Disturbing to say the least,” said City Manager James McGarel. Company spokeswoman Laura Britton wrote in the letter, “…in the event of a liquidation, CTS expects the Middleboro location to be permanently and completely closed… In the event of a dismissal of employees, they are expected to begin within the 14-day period beginning on the 7th July.” “We will be working with MassHire to hopefully hold a job fair or do anything we can to try to help employees who work in Middlesbrough, some of whom obviously live in Middlesbrough, to try to find jobs and some other stocking opportunities in our community,” said McGrill. Also this week, The Wall Street Journal reported that the company secured a $45 million bankruptcy loan, but creditors terminated the loan after they defaulted on the terms due to deteriorating liquidity and revenue. The company’s early roots date back to the 1950s as a summertime Christmas gift shop on Cape Cod known as the “Christmas Tree Gift Shop,” according to Good Housekeeping. Unlike most holiday shops, Mark and Alice Matthews run their Yarmouth Port shop from May until October – when holidaymakers flock to the Cape. Christmas Tree Shops got its start in 1970, when Chuck and Doreen Bilezikian bought the business and moved their family into an apartment above it. The Bilezikians eventually decided to expand the store beyond Christmas ornaments and gifts and began stocking summer vacation items such as beach towels and sunscreen. The trio of buildings: the Front Shop, the Back Shop, and the Barn Shop, the latter primarily selling penny candy. Most Christmas Tree Shops in New England are located in buildings that resemble Colonial, Victorian, or even Old English barn style. Other locations have distinct features, such as the Lynnfield shop lighthouse and the Sagamore shop windmill.
The Massachusetts-based Christmas Tree Stores, which filed for Chapter 11 bankruptcy in May, is giving customers two weeks to spend any remaining gift cards.
a document The court filed in the US Bankruptcy Court for the District of Delaware states that the chain “will cease selling and honoring gift cards on July 21, 2023.” The struggling business plans to notify customers of the deadline, which begins Friday, through in-store banners and a notice on the company’s website.
In addition, the company hired to manage the liquidation of all remaining Christmas tree stores announce Friday that out-of-work sales have begun nationwide. They said the sale would offer discounts of up to 50% off the lowest signed prices on merchandise and that new items would hit the sites during the sales.
At least one objection has been made to the plan. The Lynnfield Plaza Realty Trust trustees told the court that they did not want to allow any liquidation sale until Christmas Tree Stores had paid the rent that was due on July 1st. document It was brought to court.
At a Friday morning hearing in federal bankruptcy court in Delaware, the company was given a few more days to find additional investors in a last-ditch effort to save the company. They have until 1 p.m. on Wednesday, when the case is scheduled to go back to court.
Christmas Tree Stores has notified the state and town of Middleboro that all 232 workers at the company’s headquarters and distribution center are likely to lose their jobs sooner.
“The letter I had (Thursday), I’ve never read anything like it, you know? Disturbing to say the least,” said City Manager James McGarel.
Company spokeswoman Laura Britton wrote in the letter, “…in the event of a liquidation, CTS expects the Middleboro location to be permanently and completely closed… In the event of a dismissal of employees, they are expected to begin within the 14-day period beginning on the 7th July
“We’re going to work with MassHire to hopefully hold a job fair or do anything we can to try to help staff who work in Middlesbrough, some of whom obviously live in Middlesbrough, to try to find jobs and some other stocking opportunities in the area,” McGrill said.
also this week, Wall Street Journal It stated that the company obtained a bankruptcy loan of $45 million, but the creditors terminated the loan after they defaulted on the terms due to deteriorating liquidity and revenue.
The company’s early roots date back to the 1950s as a summertime Christmas gift shop on Cape Cod known as the “Christmas Tree Gift Shop”, According to Good Housekeeping. Unlike most holiday shops, Mark and Alice Matthews operate their Yarmouth Port store from May until October – when holidaymakers flock to the Cape.
Christmas Tree Shops got its real start in 1970, when Chuck and Doreen Bilzikian bought the business and moved their family into the apartment above it. The Bilezikians eventually decided to expand the store beyond Christmas ornaments and gifts and began stocking summer vacation items such as beach towels and sunscreen.
Video below: Customers reacting to bankruptcy news
The retail chain’s official name is Combine because the original location was made up of three buildings: the Front Shop, the Back Shop, and the Barn Shop, the latter of which primarily sold small candy.
Most Christmas Tree Shops in New England are located in buildings that resemble Colonial, Victorian, or even Old English barn style. Other locations have distinct features, such as the Lynnfield shop lighthouse and the Sagamore shop windmill.
“Beer fan. Travel specialist. Amateur alcohol scholar. Bacon trailblazer. Music fanatic.”