MIDDLEBOROUGH, Mass. (WWLP) – Christmas Tree Shops (CTS) officially filed for Chapter 11 bankruptcy last week and has plans to close several stores in the near future.
According to documents in the bankruptcy case, a total of 10 underperforming stores would be closed which includes two locations in Massachusetts, Sagamore and Falmouth. The Sagamore location is most known for its iconic windmill as you drive over the Sagamore Bridge into Cape Cod.
Other locations planned to be closed include in Pennsylvania, Florida, Virginia, New York, Michigan and Georgia. Employees will be offered positions at other locations if possible.
“After careful consideration we determined that availing ourselves of the Chapter 11 process
was the best way to address our burdensome liabilities,” said CTS chairman Marc Salkovitz.
“This is strictly a financial restructuring. Our operations are sound. By increasing our financial
flexibility, we will be able to focus on continuing to delight our loyal customers with a wide
selection of unique goods at affordable prices. We continue to believe that given its storied
history and strong customer loyalty, CTS has tremendous potential, and we remain committed
to the long-term success of the business.”
The location in Holyoke at 39 Holyoke Street will not be closing at this time. The Massachusetts-based company currently has 15 stores in the Commonwealth and 82 locations across the east coast.