Christmas Tree Shops closures claim 69 Maine jobs
Sixty-nine workers in Maine will lose their jobs at Christmas Tree Shops after the discount home-goods retailer said in June that it would liquidate all of its stores, according to WARN Tracker.
The 82-store retailer, which has locations in Bangor, Augusta and South Portland, filed for bankruptcy protection in May and expects to close stores by August. It originally planned to close underperforming stores and restructure using a loan, but poor sales caused it to default on the loan, which creditors terminated, according to The Wall Street Journal.
The Massachusetts-based retailer is now discounting merchandise to sell out inventory. It also laid off 2,124 workers at its New Jersey stores.
It is the latest in a wave of retail bankruptcies across the country. Bed Bath & Beyond, which owned Christmas Tree Shops until 2021, closed all its stores earlier this year, including in Bangor, Augusta and South Portland.