Augusta Exchange losing another big store as chain to shut down - WRDW

AUGUSTA, Ga. (WRDW/WAGT) - Christmas Tree Shops will liquidate all of its stores and go out of business unless someone comes forward to rescue the chain in the next few days.

The closure poses another problem for the busy Robert C. Daniel Jr. Parkway area that includes the Augusta Exchange shopping center. The area in recent weeks has lost Bed, Bath & Beyond, Buy Buy Baby and O’Charley’s.

COMING AND GOING:

• Lidl North Augusta closing due to slow business
• New Kroger taking shape near Dyess, Gordon Highway

Christmas Tree Shops disclosed in a court filing last week that it defaulted on a $45 million loan and is closing its approximately 70 stores.

The company filed for Chapter 11 bankruptcy in May, but sales continued to decline and the chain ran out of the money it needed to implement the bankruptcy plan.

Last week, the company decided instead to close its stores, which sell a whole variety of things besides Christmas decorations.

Brick-and-mortar retailers, especially houseware stores, have struggled in recent years as customers have switched to online shopping and other big-box chains like Target, which has a newly remodeled store near the Christmas Tree Shops location in Augusta.

Aside from Bed, Bath & Beyond, SteinMart and Tuesday Morning have pulled out of business.

Copyright 2023 WRDW/WAGT. All rights reserved.

Adblock test (Why?)

Article From & Read More ( Augusta Exchange losing another big store as chain to shut down - WRDW )
https://ift.tt/18jF3WE
Business

Bagikan Berita Ini