2 Christmas Tree Outlets in Massachusetts to shut after chapter submitting

Purchasing

The outlets, situated in Falmouth and Sagamore, will shut together with eight different shops following a Chapter 11 Chapter submitting.

The favored Christmas Tree Outlets retailer and windmill close to the Sagamore Bridge. John Tlumacki/The Boston Globe

Christmas Tree Outlets is closing 10 shops, together with two close to Cape Cod, the place the Massachusetts-based low cost retailer chain obtained its begin, in keeping with court docket data.

Closures are scheduled for the Falmouth and Sagamore shops following a Chapter 11 chapter submitting final week.

There are 82 complete Christmas Tree Outlets throughout 20 states, in keeping with the corporate. It sells residence items, in addition to seasonal and vacation decorations. The Sagamore location, close to Sagamore Bridge, is well-known for its massive windmill.

Firm Chairman Marc Salkovitz mentioned in a press launch that the transfer is “strictly a monetary restructuring and the corporate’s “operations are sound.” Throughout the restructuring, Salkovitz mentioned prospects can anticipate issues to be “business-as-usual.”

“By rising our monetary flexibility, we can give attention to persevering with to thrill our loyal prospects with a big selection of distinctive items at reasonably priced costs,” he mentioned. “We proceed to imagine that given its storied historical past and robust buyer loyalty, CTS has large potential, and we stay dedicated to the long-term success of the enterprise.”

He added that “prospects will see no disruption in service or product high quality” and the corporate “will proceed to honor all present playing cards and our suppliers can anticipate well timed funds.” 

Christmas Tree Outlets began off as a small retailer situated in a barn in Yarmouth Port through the Nineteen Fifties, in keeping with Good Housekeeping. The shop – then known as The Christmas Tree Present Store – was owned by Chuck and Doreen Bilezikian, who saved it open Might via October, when different holiday-themed outlets would shut.

Along with ornaments and festive items, the shop additionally bought sweet and different gadgets, Good Housekeeping experiences. Finally, the shop grew to become the low cost chain it’s at this time, increasing throughout the state and nation. 

The chain’s possession has modified arms a number of instances. It was purchased up by Mattress Tub & Past in 2003, however has been underneath Handil Holdings, LLC possession since 2020. Handil Holdings is an funding administration firm based mostly in Sudbury and owned by Marc Salkovitz and his spouse Pam Salkovitz, in keeping with Forbes.

Greg Bilezikian, the son of Chuck and Doreen, instructed The Boston Globe he’s heartbroken to listen to concerning the retailer closures, however he’s not shocked.

“It was lots of enjoyable for lots of people,” mentioned Bilezikian, who runs “Simply Picked Items” in Yarmouth. “[The bankruptcy has] introduced up feelings for various components of the household now. However I perceive. The world has modified. It’s evolving, and it’s arduous to be an entrepreneur in retail at this time.”

The opposite eight closures are occurring in Florida, Georgia, Michigan, New York, Pennsylvania, and Virginia. CTS says it’ll present updates on this web site because the case proceeds, and the primary listening to is scheduled for Tuesday.

Massachusetts prospects instructed The Boston Globe they had been unhappy to see the corporate had filed for chapter. One buyer, Bonnie Sestito, mentioned she went to the Somerville retailer within the occasion it’s subsequent on the closure checklist. 

“At the moment, I’m right here simply to be right here,” she mentioned. “It’s a very nice place to buy.”

Originally posted 2023-05-08 23:25:27.


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