Another favorite New Jersey home decor shop is reportedly facing financial trouble.
According to a report by the Wall Street Journal, the popular chain is preparing to file for Chapter 11 bankruptcy as early as this weekend. The outlet cited “people familiar with the matter” who reported the company has hired the law firm Murphy & King in Boston.
Up until 2020, Christmas Tree Shops were owned by Bed Bath & Beyond, which filed for bankruptcy last month.
While the filing may signal a tumultuous future for the brand, it does not necessarily mean that stores will automatically close their doors. Insiders say the move may be a way for the company to restructure.
There are 10 Christmas Tree Shops in New Jersey in Brick, Freehold, Cherry Hill, Springfield, Woodland Park, Deptford, Bridgewater, Paramus, Mays Landing, and Rockaway.