Good Lifestyle

In recent years, retail apocalypse has claimed many victims. This year, we have already said goodbye to two beloved stores: both Bed bathtub and beyond And Tuesday morning Announced that they would make their doors in April and have since been busy closing hundreds of remaining stores. Now another well -known company is taking the plunge. Christmas tree stores have recently confirmed that it would also close all of its stores soon. Read the rest to find out more about these closures and when your gift cards expire.

Read this then: Grocery channels, including Walmart, close stores, from July 16 .

The month after the bankruptcy deposit of Bed Bath & Beyond, Christmas tree stores were deposited for Chapter 11 bankruptcy Before the American District Court of Delaware on May 5. emerge from bankruptcy In August, and close only about 10 underperforming locations, Wall Street's journal reported.

"It is strictly a financial restructuring," Marc Salkovitz Said the co -owner of Christmas Tree Shops and president of the company, told the newspaper. "Our operations are healthy."

Salkovitz acquired the retail chain of the future outing of Bed Bath and Beyond in 2020 with his wife, Pam. According to the president, one of the main factors for the need for bankruptcy was the increase in consumer prices that have had a negative impact on the main customers of Christmas tree stores.

"When the Ukraine War reached, inflationary pressures had a massive impact on our consumer," said Salkovitz Wsj .

Now it does not seem that Christmas tree stores will return.

As part of his file, Christmas tree stores contracted a bankrupt loan of $ 45 million which included around 20 million dollars in fresh capital of its lenders, the Wsj reported. But the loan has recently been terminated because the retailer had violated the conditions In the midst of a reduction in sales, according to a notice of June 29 filed with the American bankruptcy court in Delaware.

Now the retailer has concluded an agreement with his stakeholders to close and liquidate all his remaining stores, according to the Wsj . AE0FCC31AE342FD3A1346EBB1F342FCB

"Unfortunately, the circumstances have led to the fact that the plan is really not able to move forward, because quite simply, the debtor does not have time or money to go ahead with the plan," Harold Murphy A lawyer for Christmas trees stores said during a legal hearing on June 29.

In relation: For more information, register for our daily newsletter .

The closing process is already underway, according to Hilco Merchant Resources, LLC, which has been hired to manage the liquidation of Christmas tree stores. In a July 7 Press release , the corporate management company announced that the sales close had started in the remaining 72 locations of the retailer in 20 states.

"When releases sales of activities, buyers can take advantage of discounts up to 50% on the lowest ticket prices in the store, all Christmas items and other holidays being 50% of ticket prices The lowest, "said Hilco Merchant Resources.

According to the press release, the decoration, furniture and gifts of the house, as well as lighting, furniture and equipment selected, will also be available for sale in stores for Christmas tree stores during the event liquidation.

"New goods will arrive throughout the sale," added the company.

You will want to be prudent with your purchases at the moment, because all sales are definitely during the business outlet process, according to the Hilco Mercité Resources press release.

But if you still have a gift card of Christmas tree stores, you will also have to act quickly, because it could be wasted if you do not buy anything in the coming weeks. A judicial document of July 6 revealed that the channel will end His gift card program before the end of the month.

Christmas tree stores "will cease sales and honor gift cards on July 21," said the document. The channel should also publish opinions reminding customers the deadline for using gift cards both in store and online.