As reported last week, all of the remaining Christmas Tree Shops stores are going to close at the end of August. The company announced back in May that they were filing for Chapter 11 bankruptcy, and they hoped to be able to keep some of the stores open, but they defaulted on their loan of $45 million, which was they were using that to keep the stores in operation.
The stores were not able to keep enough merchandise in stock so sales declined. They had hoped a buyer might come along to save the remaining stores, but that's not going to happen, so they're all closing.
The going out of business sales have started, so you can expect to see an extra 50% off the lowest ticketed price of Christmas and Holiday items and up to 50% off the lowest ticketed price of the remaining home goods, furniture and gifts.
They say if you have unused gift cards that you have to use them by July 21st because that is the cutoff date.
Source: Hip2Save
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