Discount retailer to close in wake of Christmas Tree Shops bankruptcy with final sales up to 50% off
A DISCOUNT store was on the verge of closure after its parent company announced it would liquidate all stores.
Home Furnishings Retailer and That! announced that it will be closing a store in Rehoboth Beach, Maryland.
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The store — part of the CTS brand formerly known as Christmas Tree Shops — sells merchandise at up to 50 percent off.
The company has not set an exact closing date for the store, but has posted yellow “Closing Store” signs on the front of the store.
The Rehoboth location has existed for almost six years.
and the! took over a former Kmart store in mid-2017.
The store is one of 72 nationwide stores that the CTS brand will close this year.
WHAT IS ANDTHIS!?
Christmas Tree Shops, the defunct budget homewares brand, expanded its store name in 2013 under new ownership.
Based in Massachusetts, the company was well known in the New England area as a place to buy cheap housewares.
Among dreams of expanding the business into other states was a fear that non-New Englanders would think the company was just a holiday business.
The company’s expanded stores operated under the brand names “Christmas Tree Shops” and “That!”. to suppress fears.
In 2016, new stores andThat! like the overall brand name.
After the Christmas tree shops and so on! For all brands sold in 2020, the company has adopted CTS as the company name.
Christmas tree shops and so on! Stores have sold similar lines of products.
CTS CLOSURE
CTS filed for bankruptcy in May.
At the time, the company announced that it would close ten branches.
CTS started liquidating all Christmas tree stores and and that! Deals after failing to raise enough money to repay bankruptcy investors.
“Unfortunately, circumstances have meant that the plan really could not go ahead simply because the debtor does not have the time or money to move forward with the plan,” company attorney Harold Murphy said at the bankruptcy hearing.
Hilco Merchant Resources, which manages the store closures, has faced allegations that it is price gouging in the liquidation sales.
“Shame on you Christmas Tree Shop,” complained a TikTok customer (@novie333) in a video.
The TikToker said they paid $14.99 and a 10 percent discount — they removed a sticker to show the glove originally cost $5.99.
“Shame on you if you advertise things like that and then only get a 10% discount.”
The US Sun reports more store closures – here a grocery brand is closing five stores nationwide.
In addition, a pharmacy brand announced that it would be closing several US branches.