Middleboro, Mass. – Seasonal décor retailer Christmas Tree Outlets has reportedly employed a Boston regulation agency to organize a possible Chapter 11 submitting.
The chapter might happen as early as this weekend, according to the Wall Street Journal.
The 80-unit retailer had been owned by Mattress Tub & Past, which offered the nameplate in 2020 because it started unloading ancillary companies. Final 12 months, the started rebranding shops as CTS and CEO/proprietor Pam Salkovitz told a CBS news affiliate in Boston that the corporate deliberate to about a further 15 shops in 2023.
“Chapter 11 isn’t the top of the street. It’s actually a means for companies to restructure,” Ken Morris of Cambridge Retail Advisors informed CBS this week. “I have a look at, there are A, B, C, D shops. When you’ve got A shops, you’re not going to shut these. However it’s possible you’ll need to shut the D shops. This enables them to restructure a few of their debt.”
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