LYNNFIELD — The Route 1 stretch between Peabody and Saugus has changed a lot over the years. Gone are many nostalgic landmarks that once dotted the busy highway.
The Hilltop Steakhouse in Saugus was demolished in 2015 to make way for a mixed-use development. The Ship Restaurant in Lynnfield was leveled in 2017 for a Starbucks. Weylu’s — the Saugus restaurant resembling Beijing’s Imperial Palace that once loomed high on a hill — and the 30-foot Mr. Peanut and Half Dollar Bar sign in Peabody are also no more.
Could the iconic Christmas Tree Shops be next?
The Wall Street Journal reported Thursday that Christmas Tree Shops could file for Chapter 11 bankruptcy as early as this weekend.
According to the Journal, Boston law firm Murphy & King will represent the popular discounter, which operates approximately 80 stores across 20 states.
Based in Middleborough, Christmas Tree Shops sells a variety of household items. From gas grills, to lawn furniture, to paper goods, to toys, to seasonal decorations, to kitchen and dining products, you name it and you likely will find it at Christmas Tree Shops.
Many of the stores have iconic architectural features. The Lynnfield location, which features a giant 40-foot lighthouse on the northeast corner of the building, is no exception. The exterior is adorned with nautically-themed decor and is reminiscent of a quaint, seaside village.
Business was brisk at the Lynnfield store Friday morning as many shoppers hauled away things like party supplies, outdoor furniture, and flower pots.
While it is not clear whether any stores will close, shoppers, who did not want to disclose their last names, said they will be disappointed if the Lynnfield store shuts down.
Judy, of Saugus, said she was shopping for outdoor furniture and accessories now that the weather is getting better.
“It’s going to be a nice weekend, so I thought it would be a good time to spruce up the yard and get the summer furniture out,” she said. “I knew that the store hasn’t been as busy as it used to be, but I hope it doesn’t get closed. I shop here all the time and would hate to see it close.”
Linda, of Peabody, said she considers herself a “regular” and frequents the store about once a week. On Friday she was shopping for paper goods for a graduation in June.
“This is the best place when you are having a party,” she said. “They have everything I need all in one place, one-stop shopping for sure at a price I can afford. I love this store and will be really disappointed if it closes.”
Bob, of Peabody, said he was looking to replace a few garden tools and some decorative outdoor pieces.
“I like to add something new every year,” he said. “This is the only place around where I know I can find these things at a great price.”
The company originated in the 1950s as a store for Christmas gifts on Cape Cod, according to The Standard-Times. Unorthodoxly, Mark and Alice Matthews operated the location from May through October to coincide with the Cape’s vacation season.
Drawing off that concept, Charles and Doreen Bilezikian opened the first Christmas Tree Shop in Yarmouth Port in 1970. The establishment included three buildings – the Front Shop, the Back Shop, and the Barn Shop. About a decade later, the Bilezikians began expanding into areas beyond the Cape.
By the time they sold the business to Bed, Bath & Beyond in 2003, the chain had grown to 23 locations. At its height, there were 82 stores in 20 states. In November 2020, the now-bankrupt Bed, Bath & Beyond sold the chain, which included 80 Christmas Tree Shops stores and the company’s distribution center in Middleborough, for an undisclosed price. The buyers were the husband-and-wife team of Marc and Pam Salkovitz, doing business as Handil Holdings LLC.
Under Handil Holdings’ control, the company underwent a major rebranding and remerchandising effort, recently changing its logo to CTS.
Attempts to reach a representative at Handil Holdings for comment were unsuccessful.
