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Christmas Tree Retailers (CTS) is slated to quickly maintain liquidation gross sales at its remaining shops, in accordance with a current courtroom submitting.
The Massachusetts-based home-goods retailer on June 29 filed a discover within the U.S. Chapter Courtroom for the District of Delaware that it had skilled a “termination occasion” in connection to the order authorizing it to get post-petition financing and different issues. The Wall Road Journal reported a default on its $45 million chapter mortgage had prompted the mortgage to get terminated.
Within the submitting, CTS additionally gave discover that it was “going to conduct going out of enterprise gross sales” at its remaining shops. The earliest the kick-off of these would happen was Thursday, strikes that can reportedly occur until the corporate shortly will get a purchaser.
A gavel rests on sounding block subsequent to a brass scale of justice in entrance of a protracted row of legislation books on a desk in a legislation workplace. Photographed with a really shallow depth of subject. (iStock / iStock)
In Could, it had beforehand recognized 10 shops that it might shut as a result of underperformance as a part of its Chapter 11 chapter proceedings. These shops had been situated in Massachusetts, New York, Pennsylvania, Virginia, Michigan, Georgia and Florida.
CHRISTMAS TREE SHOPS FILES FOR BANKRUPTCY, WILL CLOSE SOME STORES
It introduced these deliberate closures Could 5, the identical day the home-goods retailer revealed it had gone by way of with submitting a Chapter 11 petition.
On the time, the corporate had stated the goal date for exiting chapter was “earlier than the top of August.”
Within the Chapter 11 submitting particularly for Christmas Tree Retailers, LLC, the corporate estimated the $50 million to $100 million vary for its belongings. Estimated liabilities had been reported as $100 million to $500 million, in accordance with the doc.
BED BATH & BEYOND SHUTTERED STORES: THESE COMPANIES ARE MOVING IN
Handil Holdings has privately owned CTS for just a few years. Earlier than that, it belonged to Mattress Bathtub & Past.
Mattress Bathtub & Past retailer, Cherry Hill, N.J., Jan. 8, 2023. (Fox Information)
Previous to Could’s proposed closures, CTS reported having 82 shops in enterprise.
The shops it final week stated would maintain upcoming liquidation gross sales included:
- 655 Route 132, Hyannis, Massachusetts
- 425 Principal Road, West Dennis, Massachusetts
- Routes 6A and 28, Orleans, Massachusetts
- 99 East Principal Highway, Middletown, Rhode Island
- 1000 Boston Turnpike, Shrewsbury, Massachusetts
- Route 2, 300 Quaker Lane, Warwick, Rhode Island
- 15 Stockwell Drive, Avon, Massachusetts
- 28-34 Broadway, Rt. 1 South, Lynnfield, Massachusetts
- 120 Hale Highway, Manchester, Connecticut
- 92 Cluff Crossing Highway Route 28, Salem, New Hampshire
- 50 Holyoke Road PO Field 10177, Holyoke, Massachusetts
- 220 Indian River Highway, Orange, Connecticut
- 1505 South Washington Road, North Attleboro, Massachusetts
- 1425 Central Avenue, Albany, New York
- 490 Payne Highway, Scarborough, Maine
- 15 Backus Ave., Danbury, Connecticut
- 1298 Worcester Road, Natick, Massachusetts
- 41 Gusabel Ave., Nashua, New Hampshire
- 132 Northern Lights Plaza, North Syracuse, New York
- 100 Cypress Road, Williston, Vermont
- 65 Faunce Nook Highway, North Dartmouth, Massachusetts
- 177 Middlesex Ave., Somerville, Massachusetts
- 300 Ikea Drive, Paramus, New Jersey
- 85 Bricktown Manner, Staten Island, New York
- 2130 Route 70 West, Cherry Hill, New Jersey
- 100 Trotters Manner, Freehold, New Jersey
- 393 North Central Ave., Hartsdale, New York
- 42 Whitten Highway, Augusta, Maine
- 790 Jefferson Rd. Rte 252, Rochester, New York
- 4001 Shoppes Blvd., Moosic, Pennsylvania
- 479 Rt. 70 East, Brick, New Jersey
- 5450 Brandywine Parkway, Brandywine, Delaware
- 2935 Harmony Highway, York, Pennsylvania
- 420 Harry L Drive, Johnson Metropolis, New York
- 1895 South Hill Highway Rte 9, Poughkeepsie, New York
- 340 Patriots Place, Foxboro, Massachusetts
- 824 Hartford Turnpike, Waterford, Connecticut
- 1584 White Mt. Freeway, North Conway, New Hampshire
- 1150 The Arches Circle, Deer Park, New York
- 100 Durgin Lane, Portsmouth, New Hampshire
- 916 Airport Heart Drive, Allentown, Pennsylvania
- 1701 Niagara Falls Blvd Suite 500, Amherst, New York
- 4690 Excessive Pointe Blvd., Swatara, Pennsylvania
- 17151 Cole Highway, Hagerstown, Maryland
- 2264 Miamisburg Centerville Highway, Dayton, Ohio
- 13361 Corridor Highway, Utica, Michigan
- 1230 N US Hwy 31, Greenwood, Indiana
- 2925 Competition Manner, Waldorf, Maryland
- 23869 Eureka Highway, Taylor, Michigan
- 5851 North Grape Highway, Mishawaka, Indiana
- 230 Customers Sq., Mays Touchdown, New Jersey
- 365 Route 202/206, Bridgewater, New Jersey
- 327 Mount Hope Avenue, Rockaway, New Jersey
- 1336 Hansel Ave, Florence, Kentucky
- 350 Route 22 West, Springfield, New Jersey
- 1210 Bridford Pkwy East, Greensboro, North Carolina
- 239 Robert C Daniel Pkwy, Augusta, Georgia
- 2088 Interchange Highway, Erie, Pennsylvania
- 46 Springer Drive, Bangor, Maine
- 1100 North Galleria Drive, Middletown, New York
- 2053 Skibo Highway, Fayetteville, North Carolina
- 1117 Woodruff Highway, Greenville, South Carolina
- 9819 West Broad Road, Glen Allen, Virginia
- 130 East Altamonte Drive State Highway 436, Altamonte Springs, Florida
- 1791 Previous Nation Rd CR58, Riverhead, New York
- 1775 Deptford Heart Highway, Deptford, New Jersey
- 8801-7 Southside Blvd., Jacksonville, Florida
- 19563 Coastal Hwy, Rehoboth Seashore, Delaware
- 1728 US Route 46, Woodland Park, New Jersey
- 8020 Mediterranean Drive, Estero, Florida
- 140 College City Heart Drive, Sarasota, Florida
- 39 Holyoke Road, Holyoke, Massachusetts
- 64 Leona Drive, Middleboro, Massachusetts
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