Christmas Tree Shops store at Millcreek Mall to begin liquidation sale on Friday
The Christmas Tree Shops location at the Millcreek Mall, along with 71 other stores in 20 states, will begin a liquidation sale Friday.
The chain, which filed for bankruptcy protection in May, had been looking for a last-minute buyer after defaulting on a $45 million loan, according to a USA Today report.
Christmas Tree Shops, which expanded its original holiday-themed offering to include seasonal decorations, household goods and bedding, was founded in the 1950s by Charles and Doreen Biiezkian in Cape Cod, Massachusetts, according to the company's website.
Against a backdrop of national news reports of the company's demise, business was brisk Thursday morning at the Millcreek Mall Pavilion location, in between Michael's and Five Below at 2088 Interchange Road.
While there were no signs inside the store indicating plans to close, an employee told the Erie Times-News that a liquidation would begin Friday and that the store would remain open until the inventory was sold, or by late August.
The store, which occupies 37,000 square feet of space, opened in 2010, said Joe Bell, spokesman for Cafaro Corp., which owns the Millcreek Mall.
Most shelves remained packed Thursday with a wide range of goods, including holiday decorations, candles, storage containers, candy and snacks.
The chain, acquired by Bed Bath & Beyond in 2003, was sold to Handil Holdings in 2020.
The chain and its parent company filed for Chapter 11 or reorganizational bankruptcy on May 5 of this year, with an initial plan to close 10 stores and emerge from bankruptcy by August, according to a CNN report.
The company, which announced last week that it had defaulted on a $45 million loan, said it would close all stores unless a buyer could be found, according to the Wall Street Journal.
As of Thursday afternoon, there was no indication that a buyer had stepped forward.
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Contact Jim Martin at jmartin@timesnews.com.
This article originally appeared on Erie Times-News: Christmas Tree Shops to close all stores, including at Millcreek Mall
