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MIDDLEBOROUGH, Mass. (WBZ NewsRadio) — Christmas Tree Shops, the Massachusetts-based retail chain that has operated for more than 50 years, is reportedly preparing to file for Chapter 11 bankruptcy.
The Wall Street Journal reports that the company could file for bankruptcy as early as this weekend and recently hired Boston-based law firm Murphy & King to prepare the filing, according to people familiar with the matter.
Charles Bilezikian and his wife Doreen founded Christmas Tree Shops in 1970, eventually expanding the store beyond its original Yarmouth Port location on Cape Cod. In 2003, the recently bankrupt Bed Bath & Beyond purchased Christmas Tree Shops for $200 million.
Bed Bath & Beyond sold Christmas Tree Shops in 2020 to Handhil Holdings LLC, a private company, who reportedly rebranded the company to "CTS" last year to help convince customers that the store sold more than Christmas trees.
According to the store's website, there are 15 Christmas Tree Shops currently in Massachusetts and four in New Hampshire.
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