'Hopefully they'll have their jobs': Cape founder of Christmas Tree Shops, with bankruptcy

Rasheek Tabassum Mujib, Cape Cod Times
·2 min read

Christmas Tree Shops, a Cape Cod-grown home decoration retailer, filed for bankruptcy protection on Friday.

Christmas Tree Shops, along with its parent company Handil Holdings LLC filed for a Chapter 11 petition on Friday in Delaware Bankruptcy Court, claiming in a statement that it is “strictly financial restructuring.” Handil Holdings LLC is based on Middleboro.

“The environment in retail today is much different than when we grew up; it's much more difficult to perpetuate a retail concept and seeking bankruptcy protection is something that the current owners needed to do to ensure the success of the company,” said Greg Bilezikian, son of Charles and Doreen Bilezikian, former owners of the franchise.

The original Christmas Tree Shops store was on Route 6A in Yarmouth Port, in a 2006 photo. That store is closed now but there are five other stores on Cape Cod.
The original Christmas Tree Shops store was on Route 6A in Yarmouth Port, in a 2006 photo. That store is closed now but there are five other stores on Cape Cod.

Most Christmas Tree Shops locations will remain open, with 10 of its stores set to close by August, among 82 across the country, according to the statement. Hyannis, West Dennis, Falmouth, Sagamore and Orleans are the five branches on Cape Cod.

Owners intend to emerge in a better position to prosper, according to statement.

Handil Holdings LLC owes fewer than 50 creditors, has estimated assets of less than $50,000 and has estimated liabilities of between $50 million and $100 million, according to a court filing.

“We are confident we will emerge a stronger business, better positioned to grow and prosper into the future,” Christmas Tree Shops Chairman Marc Salkovitz said in the statement. “Our operations are sound. By increasing our financial flexibility, we will be able to focus on continuing to delight our loyal customers with a wide selection of unique goods at affordable prices.”

“I want to remain very positive and supportive of them and their decisions,” said Bilezikian. “My blessings to them for a stronger future and I wish them the best of success.”

In the 1950s, a couple, Mark and Alice Matthews, opened The Christmas Tree Gift Shop in Yarmouth Port, open from May to October each year. In 1970, Charles and Doreen Bilezikian bought the store and expanded over the next three decades and opened 24 more locations in New England and New York.

In 2003, Bed Bath and Beyond bought and expanded the franchise to 20 states. In November 2020, it sold the company to Middleborough-based Handil Holdings LLC.

Bed Bath & Beyond also filed for bankruptcy protection in April.

Bed Bath & Beyond has also filed for bankruptcy protection in April, following years of dismal sales and losses and numerous failed turnaround plans.

The Bilezikian family still owns the property for the Christmas Tree Shops store branches in Falmouth, Sagamore and Orleans. Bilezikian is uncertain about future plans and intends to take it as on "case by case basis and see what happens."

It's a very sensitive time for the company, said Bilezikian.

“We have many great friends that still work in the stores and hopefully they'll have their jobs; they're good people and I wish everybody the best,” said Bilezikian.

Rasheek Tabassum Mujib writes about healthcare and education. Reach her at rmujib@capecodonline.com.

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This article originally appeared on Cape Cod Times: Christmas Tree Shops, with 5 stores on Cape Cod, files for bankruptcy