Three Companies Claim Bankruptcy and Close Massachusetts Retail Stores
Massachusetts is a spectacular place to live. Residents and visitors alike enjoy vast and various landscapes from sandy Cape Cod beaches, to the iconic Boston skyline, and the hidden beauty of the Berkshire mountains. From historic landmarks, legendary sports teams, and an overall great quality of life, folks love living in the Bay State.
Massachusetts is home to an abundance of independent retailers from book stores, to sports equipment and gift shops. While small and family-owned businesses are a vital part of the state's economy, big box stores have their place in Massachusetts as well.
2023 was a tough year for many folks across the nation and locally right here in Massachusetts. Consumers everywhere felt the wrath of high costs and supply shortages. Retailers, both corporate and locally owned, felt the crunch as well, in addition to increasing online competition. Some big names struggled to survive 2023 and many did not make it.
Three Retailers Filed for Bankruptcy in 2023, Closing Massachusetts Locations
Bed Bath & Beyond
Bed Bath & Beyond struggled in the early part of 2023 and eventually filed for bankruptcy in April, which led the to closure of its 360 U.S. brick-and-mortar locations, including 17 in Massachusetts.
The brand was purchased by Overstock.com, and the company's products are still available online.
Christmas Tree Shops
Beloved New England-based retailer The Christmas Tree Shops, which got its start on Cape Cod more than 50 years ago,in May of 2023. By the end of August, all stores had been shuttered.
Wedding fashion retailer David's Bridalin April of 2023 and closed several stores including many although Westwood, North Attleboro, and West Springfield, Massachusetts all remained open.
LOOK: States Sending the Most People to Massachusetts
Gallery Credit: Stacker