Discount Retailer Christmas Tree Shops Files for Bankruptcy
- Company receives $45 million for Chapter 11 financing
- Retailer plans to shutter up to 10 stores and reduce debt load
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Christmas Tree Shops Inc. filed for bankruptcy — less than three years after Bed Bath & Beyond Inc. sold the discount retailer — with plans to shutter some underperforming stores.
The company filed a Chapter 11 petition alongside parent company Handil Holdings in Delaware on Friday, court papers show. Handil listed liabilities of as much as $100 million in its bankruptcy petition.