You can be on Entrepreneur’s cover!

Christmas Tree Shops to Close All 70 Locations: 'I Wish Someone Could Save These Stores' The chain started as a boutique in Cape Cod in the 1950s.

By Sam Silverman

Key Takeaways

  • Christmas Tree Shops filed for bankruptcy in May.
  • The company was in business for 53 years.
  • People are hoping someone steps up to save the chain.
entrepreneur daily

Opinions expressed by Entrepreneur contributors are their own.

Christmas Tree Shops in Buffalo, New York, USA.

It's a not-so-merry time for the Christmas Tree Shops.

The chain of discount stores known for selling home goods, and, of course, Christmas decor, is set to liquidate all 70 remaining locations and go out of business.

The news, which The Wall Street Journal first reported, comes after the brand filed for Chapter 11 bankruptcy in May and took out a $45 million loan to revamp the company. However, the loan was terminated after the Christmas Tree Shops defaulted on the payments following continually declining sales, according to a filing with U.S. Bankruptcy Court obtained by the outlet.

It will liquidate all remaining stores unless a buyer steps up in the last hour.

RELATED: Here's What Bed Bath & Beyond's Bankruptcy Really Means for the Future of Retail

"Unfortunately, circumstances have resulted in the plan really not being able to go forward because quite simply, the debtor doesn't have the time nor the money to go forward with the plan," a lawyer for the retailer Harold Murphy said during a court hearing.

People took to Twitter to share their feelings about the closing and even suggested some prospective buyers who can save the brand.

The Christmas Tree Shops is owned by Handil Holdings, LLC after purchasing the chain from Bed Bath & Beyond, which is also in the process of liquidating, in 2020. It originated as a boutique in Cape Cod in the 1950s, according to NPR, before expanding to 82 locations across the country in its heyday.

It's unknown at this time when the Christmas Tree Shops will close for good.

Sam Silverman

Content Strategy Editor

Sam Silverman is a content strategy editor at Entrepreneur Media. She specializes in search engine optimization (SEO), and her work can be found in The US Sun, Nicki Swift, In Touch Weekly, Life & Style and Health. She writes for our news team with a focus on investigating scandals. Her coverage and expertise span from business news, entrepreneurship, technology, and true crime, to the latest in entertainment and TV news. Sam is a graduate of Lehigh University and currently resides in NYC. 

Want to be an Entrepreneur Leadership Network contributor? Apply now to join.

Business News

This Fan-Favorite Masters 2024 Item Is Still $1.50 as Tournament Menu Appears Unscathed by Inflation

The pimento cheese sandwich is a tradition almost as big as the tournament itself.

Business News

I Designed My Dream Home For Free With an AI Architect — Here's How It Works

The AI architect, Vitruvius, created three designs in minutes, complete with floor plans and pictures of the inside and outside of the house.

Business Solutions

Scan Easier and More Affordably with This 20% Discount

iScanner is a mobile app that makes document management, editing, and sharing easier.

Side Hustle

This Dad Started a Side Hustle to Save for His Daughter's College Fund — Then It Earned $1 Million and Caught Apple's Attention

In 2015, Greg Kerr, now owner of Alchemy Merch, was working as musician when he noticed a lucrative opportunity.

Business Ideas

63 Small Business Ideas to Start in 2024

We put together a list of the best, most profitable small business ideas for entrepreneurs to pursue in 2024.

Making a Change

Learn to Play Guitar Even if You Have No Previous Training for Just $20

Start with the beginner's crash course and learn how to play guitar in no time.