Maine Christmas Tree Shops locations unaffected by bankruptcy filing, for now
Alexis Wells
Company leaders attributed the decision to file bankruptcy to high inflation, interest rate hikes and decreasing consumer demand for home goods and seasonal decorations.
Christmas Tree Shops may be another casualty of the ongoing retail shakeout, but Maine stores may be safe for now.
Although the retailer filed for Chapter 11 bankruptcy and will close 11 stores, the company hasn't officially listed any of the three Maine locations, sited at 490 Payne Road in Scarborough, 42 Whitten Road in Augusta and 46 Springer Drive in Bangor.
Stores on the list include those in New York, Pennsylvania, Virginia, Michigan, Georgia, Florida and Massachusetts.
The company is undergoing financial restructuring with the goal of lifting out of bankruptcy by August, according to published reports, and the decision will not result in mass layoffs.
Company leaders said operations had been affected by inflation, interest rate hikes and decreasing consumer demand for home goods and seasonal decorations.
The chain started on Cape Cod in 1950 as a seasonal gift shop; the company now has 82 locations in the U.S.
Christmas Tree Shops is a one-stop shopping experience, stocked with holiday items, furniture, home decor, pet treats, beauty supplies and food.
Christmas Tree Shops were previously owned by Bed Bath and Beyond, which recently announced it was closing all of its stores and liquidating all inventory. Christmas Tree Shops are now based in Middleboro, Mass., and owned by Handil Holdings LLC, which purchased the company in 2020.
Many chains have not been able to keep up with the changing retail landscape, and only time will tell what that means for Maine's Christmas Tree Shops. David's Bridal, Party City and Serta Simmons have also filed for bankruptcy in recent weeks. Burger King also announced it would be closing 400 restaurants by the end of 2023.
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