Christmas Tree Shops insolvency, suppliers could lose big money!
2023-05-31
Christmas Tree Shops, a U.S. retailer of holiday decorations, filed for bankruptcy in District Court on Friday.
Christmas Tree Shops has 80 stores in the United States. Although the number is small, the sales volume is not low. The retailer sold $167 million in home textile products in fiscal year 2021, and once ranked the 39th largest textile retailer in the United States. Christmas Tree Shops used to be a retail sub-brand of Bed Bath & Beyond. After being sold by BBB in 2020, the store was renamed CTS and launched with a new image. At that time, the company announced plans to open 15 new stores in 2023, but it turned out to be on the track of bankruptcy. Its old owner, BBB, also declared bankruptcy earlier this year.
