Some retailers create a bond with their customers that's hard to explain and very difficult to duplicate.
The most famous example of this might be Ollie's Bargain Outlet (OLLI) -), a chain with a fanbase that has dubbed itself the "Ollie's Army." It's a customer base so devoted that new store openings are an event.
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Ollie's literally does not have to market when it opens a new location because its customers do it for them. That's a unique level of devotion for a retailer although it's a phenomenon shared by restaurant chains like Shake Shack (SHAK) -), Whataburger, and a few others.
In the retail space, you can maybe argue that Costco and the TJX Companies (TJX) -)-- Marshalls, TJ Maxx, and HomeGoods -- have similar followings, but the number of brands that connect with customers in that way is very limited. Christmas Tree Shops had that kind of loyal customer base, but those customers were not enough to save the brand, which filed for Chapter 11 bankruptcy in May with expectations that it would be able to restructure its debt, close its lowest-performing stores, and continue to operate.
That did not happen when the company passed an early-July deadline to find funding set by its creditors. Once that happened, Christmas Tree Shops began liquidating its stores but no end date had been set.
Now, the company has shared the sad news on its website as to when it will close its doors forever.
TheStreet
Christmas Tree Shops Is in Its Final Days
Like its former owner, Christmas Tree Shops never fully recovered from its covid-era sales woes. The chains, which had rebranded as "CTS" in order to help customers realize it was not a chain that sold Christmas items year round will close the doors of its 82 remaining stores on August 12.
"Going out of business sale. Final days! New discounts daily up to 90% of lowest-ticketed price," the company shared on its website. Don't miss your last chance to shop a CTS store. Last day is August 12."
All of the chain's stores have been operating in liquidation mode since mid-July. Liquidation sales generally include store fixtures and are usually managed by an outside company.
In many cases, a close-out or liquidation sale includes merchandise that the chain did not sell in the first place. The company managing the sale may bring in merchandise, so buyers should be wary.
The operators of Christmas Tree Shops also posted a warning to its customers on the chain's website designed to protect them from being scammed.
"Christmas Tree Shops does not sell online. There are several websites and Facebook pages claiming to be us. Please make sure you're on our official website and Facebook page before providing any personal information," the company posted at the top of its website.
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Could Christmas Tree Shops Be Resurrected?
Retail names, at least ones with big followings, seem to never go away. Bed Bath & Beyond has already returned as the new name for the former Overstock.com. The difference in this case, however, is that Christmas Tree Shops had a loyal following in New England where it was founded, but its name was always a liability.
The chain actually had similar problems to Overstock.com which had a name that implied it sold only overstocked goods, which did not fully represent its business. That's a liability Christmas Tree Shops tried to overcome with its CTS rebranding, but that's not exactly a name that told people what the discount retailer actually offered either.
There has not been an auction for the intellectual property assets, which would include its name and website, of Christmas Tree Shops.
