Christmas Tree Shops Bankruptcy Converted to Chapter 7

U.S. retail chain Christmas Tree Shops, which filed for bankruptcy in May, has had its bankruptcy case converted to a Chapter 7 liquidation after failing to meet revenue targets during store closing sales. The company initially sought to keep most of its stores open while addressing its debt, but it eventually shifted to a full liquidation in July. The bankruptcy court-appointed trustee will oversee the liquidation process and address concerns about unpaid employee wages.