Christmas Tree Shops Stores in New Jersey on the Verge of Closing for Good
News for lovers of Christmas Tree Shops just went from bad to worse. The stores could literally be DAYS AWAY from closing for good.
How They Got Here
Back in May, Christmas Tree Shops filed for bankruptcy in the hopes of regaining some financial strength, according to CBS News.
What's Gone Wrong Since
Now it's July and the retailer has reportedly been struggling to find a way to pay back its bankruptcy lenders. The next step could be liquidation.
With in South Jersey alone, this would be terrible. All I envision is driving through a shopping center only to see ANOTHER vacant space. And the square footage Christmas Tree Shops takes up would mean enormous empty spaces and that's just depressing as hell.
What Happens Next?
Unless a hero swoops in to save the day, someone who can bail out Christmas Tree Shops, a judge has cleared the path for the retailer to start selling off merchandise at a rapid pace. Christmas Tree Shops could be all gone by the end of August so their locations wouldn't have to pay rent for the month of September.
According to CBS News Boston, Christmas Tree Shops Chairman Marc Salkovitz testified in court that closing sales could go into effect as soon as July 7th.
Certainly, CTS has had trouble competing with online retailers like Amazon in recent years. In South Jersey, Christmas Tree Shops has stores in Deptford, Cherry Hill, and Mays Landing.