Chicago Mercantile: Certain market data is the property of Chicago Mercantile Exchange Inc. US market indices are shown in real time, except for the S&P 500 which is refreshed every two minutes. Your CNN account Log in to your CNN account Bed Bath and Beyond and Tuesday Morning are also liquidating. Rivals, such as Party City and Tuesday Morning, have also had financial difficulties resulting in bankruptcy. US shoppers are also cutting back their spending on discretionary goods because of higher interest rates, tightening credit conditions and the resumption of student loan payments. Retailers, particularly ones that sell homewares, have struggled as customers have switched to online shopping at Amazon and other big-box chains, including Walmart and Target. It kept its name because it was “adding to the store’s fun, quirky personality.” Years later, the company expanded its assortment into “quaint, treasure-filled spaces” for bargain hunters. The retailer started in the 1950s as a small holiday store in Cape Cod, Massachusetts. Late last week, the company decided to permanently close its business instead.īed Bath & Beyond, now also bankrupt, sold Christmas Tree Shops in 2020 to Handil Holdings, which had hoped to revitalize the discount chain.
However, its sales continued to decline and Christmas Tree Shops ran out of the money it needed to go forward with the bankruptcy plan. The closure comes after it filed for Chapter 11 bankruptcy in May in a bid to turn around the 53-year-old company. The discount retail chain, which sold a variety of home goods, disclosed in a court filing last week that it defaulted on a $45 million loan and is closing its roughly 70 stores in the coming weeks.
Christmas Tree Shops will liquidate all of its stores and go out of business unless a white knight comes out of the woodwork at the 11th hour.
0 kommentar(er)
