Might Christmas Tree Retailers be the following retailer in Chapter 11?
Middleboro, Mass. – Seasonal décor retailer Christmas Tree Retailers has reportedly employed a Boston legislation agency to arrange a possible Chapter 11 submitting.
The chapter may happen as early as this weekend, in keeping with the Wall Road Journal.
The 80-unit retailer had been owned by Mattress Tub & Past, which offered the nameplate in 2020 because it started unloading ancillary companies. Final 12 months, the started rebranding shops as CTS and CEO/proprietor Pam Salkovitz instructed a CBS information affiliate in Boston that the corporate deliberate to about a further 15 shops in 2023.
“Chapter 11 isn’t the tip of the street. It’s actually a approach for corporations to restructure,” Ken Morris of Cambridge Retail Advisors instructed CBS this week. “I have a look at, there are A, B, C, D shops. When you’ve got A shops, you’re not going to shut these. However chances are you’ll wish to shut the D shops. This enables them to restructure a few of their debt.”