Bankrupt Christmas Tree Shops expected to close all stores
BUFFALO, N.Y. (WKBW) — It looks like it will take a Christmas miracle to save a popular shopping destination in Amherst.
According to the Wall Street Journal, Christmas Tree Shops is expected to liquidate all 72 of its remaining stores nationwide unless a buyer can be found within the next week.
The news comes after the retailer defaulted on a $45 million loan.
The Massachusetts-based chain, which operates a location on Niagara Falls Boulevard in Amherst and 13 other stores across New York, filed for Chapter 11 bankruptcy in May.
There is no word on when the stores could go dark if a new owner does not emerge.
Source: WKBW 7 News Buffalo
