All Christmas Tree Shops are now closed, as they announced on August 12, 2023 that they couldn’t find a new buyer and filed for Chapter 11 bankruptcy in the spring. The final days to shop ended on August 12, 2023.
The complete closure resulted in the retailer’s incapacity to repay the $45 million they had borrowed for bankruptcy funding, despite the fact that they actually sold numerous items unrelated to the holiday season.
In 2023, Christmas Tree Shops became part of the expanding roster of stores shutting down as they experienced the same destiny as their previous parent company, Bed Bath & Beyond, who previously possessed them.
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The CTS locations remained open until the end of August 12. Eventually, the liquidation sales at CTS started with small discounts of 10-30% and gradually increased to up to 90% off the lowest ticketed price of leftover gifts, furniture, and home goods.
Sharp-eyed shoppers found hidden markups during the Christmas Tree Shops liquidation sale.
Have you heard about this? At Christmas Tree Shops, deal-finders were attracted to the sales liquidation. However, in a viral TikTok video and a smattering of posts and comments on the internet, people accused the store of marking up the prices of merchandise by double, only to reveal a lower price underneath the top layer of tags. They claimed that the higher-priced new items were covered with old price tags.
Below, a $4.99 label displayed a small utensil collection priced at $14.99, while a $7.99 tag indicated a cereal dispenser priced at $9.99, as shared by u/MorriganSavage on July 8th.
During the liquidation sale at Christmas Tree Shops, prices of certain items were higher than their regular prices. This was because a few products had been previously marked down for a sale or promotion, resulting in higher prices for some items during the liquidation sale.
All Christmas Tree Shops — and their liquidation sales — were done August 12, 2023.
Here’s the list of all the stores that closed before August 12. CTS defaulted on their $45 million loan, leading to a full winding down of 82 stores. What was initially planned to be only 10 stores turned into the first bankruptcy filing on May 5, 2023. Beyond & Bath Bed owned the Christmas Tree Shops from 2003 to 2020.
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Christmas Tree Shops gift cards became worthless on July 21, 2023.
In bankruptcy court documents, Christmas Tree Shops indicated their intention to cease “selling and honoring gift cards on July 21, 2023.”.
After that date, they ceased to sell gift vouchers.
If you made any purchases after that, you are unlucky. You were given until August 5, 2023, to return items bought prior to July 7.
Christmas Tree Shops used to be owned by Bed Bath & Beyond.
Overstock.Com acquired Christmas Tree Shops, which had been previously owned by Bed Bath and Beyond (from 2003 to 2020) and additionally revealed its own financial troubles.
Nevertheless, Christmas Tree Shops/CTS establishments were previously owned by Handil, the corporation that acquired the company in 2020.