Legendary discount store and Dollar Tree rival begins 30 percent off sales as it closes 10 stores
Sales have started at a popular discounter after it recently announced the closure of at least 10 stores.
CTS, formerly known as Christmas Tree Shops, currently operates 82 stores in 20 states across America.
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However, this week Dollar Tree rival made the tough decision to close 10 of those locations due to debt problems Yahoo! finance.
The Christmas tree retailer intends to restructure and realign its finances to move forward with its remaining 72 locations and avoid bankruptcy.
Since the announcement, CTS has been offering a discount of up to 30 percent on the cheapest items in the store.
According to CTS, selected fixtures, fittings and equipment at the ten closure locations are also offered at retail prices.
However, all in-store sales are intended to be final.
Below is a compiled list of all of the closing CTS stores in Florida, Georgia, Massachusetts, Michigan, New York, Pennsylvania and Virginia, according to Yahoo! finance.
- 11470 Pines Blvd, Pembroke, FL
- 845 Ernest W. Barrett Pkwy NW, Kennesaw, GA
- Davis Straits, Route 28, Falmouth, MA
- Cranberry Highway Route 6A, Sagamore, MA
- 4071 Miller Road, Flint, MI
- 32 Spring Valley Marketplace, Spring Valley, NY
- 21182 Salmon Run Mall Loop West, Watertown, NY
- 955 East Lancaster Ave, Downington, PA
- 2350 Lincoln Highway East, Lancaster, PA
- 2700 Potomac Mills Circle, Woodbridge, VA
CTS chairman Marc Salkovitz said customers don’t have to worry despite the closures because operations are continuing as usual.
“We will continue as usual while we work to complete our financial restructuring,” Salkovitz said CBS.
“Our customers will not experience any degradation in service or product quality, we will continue to honor all gift cards and our suppliers can expect payments on time.”
Christmas Tree Shops was founded in 1970 in a three-store location in Massachusetts that sold only ornaments.
The brand later expanded to sell year-round homewares and fabrics, and soon offered a small clothing department.
“Don’t you just love a bargain?” was the retailer’s advertising slogan in the early 2000s.
The exteriors of the shops were also often decorated with distinctive styles.
Unfortunately, in the mid-2000s, CTS was a “category killer” that struggled to adapt to the ever-expanding demands of e-commerce.
It became famous for offering affordable and trendy home furnishings, but has changed ownership over the years.
As previously reported by The US Sun, the original owners of CTS sold their stakes to Bed Bath & Beyond, another ailing category killer, for $200 million in 2003.
Then in 2020, Bed Bath & Beyond sold it to Handhil Holdings LLC for an undisclosed amount.
Bed Bath & Beyond filed for bankruptcy in April and will close all of its physical stores.
The company announced the closure of all 360 stores by the end of June, with liquidation sales beginning on April 26.
Customer reactions to the initial sales have been mixed since then.
For more on store closures, see The US Sun’s coverage of a popular Foot Locker competitor closing in 48 hours after 50 percent off sales.
The US Sun also reports on a Walmart competitor that is now closing its last few stores.
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