Christmas Tree Shops on Verge of Bankruptcy Filing, Reports WSJ

Christmas Tree Shops on Verge of Bankruptcy Filing, Reports WSJ

Christmas Tree Shops, the discount New England home decor retailer, is reportedly getting ready to file for bankruptcy, according to the Wall Street Journal.

The Wall Street Journal, citing "people familiar with the matter," reports that the Chapter 11 bankruptcy filing could happen as soon as this weekend.

Reportedly the company has hired the law firm Murphy & King in Boston.

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Christmas Tree Shops were owned by Bed Bath & Beyond until 2020. The chain got its start on Cape Cod 50 years ago.

 

History:

The company was founded in 1957 by Charles and Doreen Bilezikian in Yarmouth Port, Massachusetts.

The original store was located in a former dance hall and was open only during the Christmas season. Bilezikian sold Christmas ornaments, decorations, and artificial trees at discounted prices, which proved to be very popular with customers.

Over time, Bilezikian expanded the business by opening additional locations throughout New England. The stores remained open only during the holiday season until the 1980s when the company began to operate year-round.

In 2003, the Christmas Tree Shops was acquired by Bed Bath & Beyond — that retailer filed for bankruptcy in the past two weeks.