PROVIDENCE, R.I. (WPRI) — Christmas Tree Shops, best known for selling a variety of seasonal items and home décor, is preparing to close 10 of its stores after filing for bankruptcy protection last week.

“This is strictly a financial restructuring,” Christmas Tree Shops chairman Marc Salkovitz said in a statement Friday. “Our operations are sound. By increasing our financial flexibility, we will be able to focus on continuing to delight our loyal customers with a wide selection of unique goods at affordable prices.”

“We continue to believe that given its storied history and strong customer loyalty, Christmas Tree Shops has tremendous potential, and we remain committed to the long-term success of the business,” he added.

Christmas Tree Shops has over 80 stores across 20 states but is planning to shutter 10 of those stores in seven states.

Per bankruptcy filings, stores set to close are:

• 11470 Pines Blvd, Pembroke Pines, Florida
• 845 Ernest W. Barrett Pkwy NW, Kennesaw, Georgia
• 28 Davis Straits, Falmouth, Massachusetts
• 5 Cranberry Highway, Sagamore, Massachusetts
• 4071 Miller Road, Flint, Michigan
• 32 Spring Valley Marketplace, Spring Valley, New York
• 21182 Salmon Run Mall Loop West, Watertown, New York
• 955 East Lancaster Ave., Downington, Pennsylvania
• 2350 Lincoln Highway East, Lancaster, Pennsylvania
• 2700 Potomac Mills Circle, Potomac Mills, Virginia

It’s not clear when these locations will close permanently, and Christmas Tree Shops did not immediately respond to Nexstar’s request for additional information.

Salkovitz expects Christmas Tree Shops to complete its financial restructuring and emerge from Chapter 11 by the end of August.

“We are confident we will emerge a stronger business, better positioned to grow and prosper into the future,” he said.

The retailer – which first opened in 1950 and was, at one point, owned by the now-closing Bed Bath & Beyond – underwent a rebranding last year after discovering that shoppers outside New England believed they only sold Christmas trees.

It also isn’t the first retailer to file bankruptcy in recent months.

In early May, discount retailer Tuesday Morning announced it would be closing all of its stores after filing voluntary petitions for protection under Chapter 11 of the U.S. Bankruptcy Code. Others filing for bankruptcy include party supplies chain Party City and David’s Bridal.

Most notably was Bed Bath & Beyond, which recently filed for bankruptcy and has since launched its liquidation sale. The retailer is expecting to close all of its locations by summer.