Christmas Tree Shops reportedly to liquidate all remaining stores

It looks as if Christmas Tree Shops is going out of business.

Christmas Tree Shops is planning to liquidate all of its stores, reported the Wall Street Journal. The Massachusetts-based, discount home décor and furniture retailer filed for Chapter 11 bankruptcy protection in May, seeking court approval to close 10 of its 82 store locations.  At the time, the company described the bankruptcy as a “strictly financial restructuring,” and that it hoped hopes to exit Chapter 11 before the end of August.

The liquidation sales and closure of all Christmas Tree Shops was outlined in proposed orders filed in the federal bankruptcy in Delaware on June 29. It follows the inability of the company to meet the financial obligations of its debtor-in-possession financing, which was authorized on June 5.

Christmas Tree’s bankruptcy filing came nearly three years after the company was sold by Bed Bath & Beyond to Handil Holdings.