Estero’s Christmas Tree Shop to go out of business. Here are the liquidation deals so far

Southwest Florida residents have lost another store to buy seasonal decorations and housewares.

Christmas Tree Shops announced it will liquidate all of its stores and go out of business, which will include its brand-new Estero location.

The chain filed for Chapter 11 bankruptcy back in May due to worsening finances. Unless it can find a last-minute buyer to save the day, all of its locations across the country will close down.

What are "Christmas Tree Shops"?

Despite the festive name, it's not an exclusively holiday-centric boutique. The Massachusetts-based retail chain sells a constantly changing mix of seasonal décor, housewares, furniture, and more.

The Christmas Tree Shops started in the 1950s in Cape Cod and grew to more than 70 stores across 20 states in:

• Connecticut: 4

• Delaware: 2

• Florida: 4

• Georgia: 1

• Indiana: 2

• Kentucky: 1

• Maine: 3

• Maryland: 2

• Massachusetts: 14

• Michigan: 2

• New Hampshire: 4

• New Jersey: 10

• New York: 11

• North Carolina: 2

• Ohio: 1

• Pennsylvania: 5

• Rhode Island: 2

• South Carolina: 1

• Vermont: 1

• Virginia: 1

Decor and houseware chain to close: Christmas Tree Shops closing all 73 stores across 20 states after worsening finances

Why is the Christmas Tree Shop in Estero closing?

The Christmas Tree Shops are liquidating its remaining stores due to worsening finances, according to a report from The Wall Street Journal.

According to a filing with the U.S. Bankruptcy Court in Wilmington, Delaware, last week, the company and its stakeholders have “reached an agreement this week to liquidate the remaining over 70 stores unless a buyer emerges within the next week or so,” the publication reported.

The report further elaborates that the Christmas Tree Shops took out a $45 million loan, but creditors terminated it "after the company defaulted on the terms due to worsening revenues and liquidity."

Bed Bath & Beyond, which filed for bankruptcy in March, purchased the chain in 2003 for $200 million and sold the chain to Handil Holdings, a private company, in 2020.

How long was the Estero location open?

The Estero location was not even open for more than a year before the announcement. The 35,000-square-foot store opened last year in August, replacing Bed Bath & Beyond, which closed in February 2021 at the Coconut Point Mall.

What other Florida locations are there?

In addition to Estero, the other three Florida locations:

• Jacksonville

• Sarasota

• Altamonte Springs

The Pembroke Pines location closed on May 5 of this year when multiple locations across the nation also closed.

What can residents expect in the coming months?

It is not clear on which date the stores will close permanently or what sales the chain will offer over the coming months. Based on multiple store closures back in May, Christmas Tree Shops liquidation sales begin with 10% to 30% discounts with the percentages increasing closer to the final store opening date.

Contributing reporting from Francisco Guzman, USA Today-NETWORK.

This article originally appeared on Fort Myers News-Press: Christmas Tree Shops closing, including Estero Florida store