Waterford ― Christmas Tree Shops outlets around the country, including the one here at Crystal Mall, launched going-out-of-business sales Friday, a preliminary step in their eventual closings, according to a company spokeswoman.

Exact dates of store closings will be determined by how quickly each store sells its inventory of discount holiday decorations, home furnishings, furniture and gifts, Maya Pogoda, the spokeswoman, said.

All 72 of the Massachusetts-based chain’s remaining stores, including four in Connecticut, will be closed, she said.

Hilco Merchant Resources, the financial services company managing the liquidation sales, announced the sales will feature discounts of up to 50% off the lowest ticketed prices, with new merchandise arriving during the sales.

Connecticut officials advised Friday that shoppers should use any Christmas Tree Shops gift cards in their possession by July 21 since the chain said it intends to stop accepting gift cards after that date. Consumers can check the balance of their gift cards by visiting the company’s website.

“With all Christmas Tree Shops set to close, time is running out to use gift cards and to make final returns,” Attorney General William Tong said in a news release. “Consumers should act quickly and get their money’s worth now, especially since you should not necessarily expect to receive a refund or any other compensation from the store.”

Consumers with questions can contact the attorney general's Consumer Assistance Unit at (860) 808-5240 or the state Department of Consumer Protection at dcp.complaints@ct.gov.

The Wall Street Journal reported last week that Christmas Tree Shops, which filed for Chapter 11 bankruptcy protection in May, planned to close its stores unless a buyer came forward by the end of the first week of July. Initially, the company closed 10 of its 82 stores and obtained a $45 million loan to keep the others afloat while it sought to restructure its finances.

But, the Journal reported, the company defaulted on the loan.

Christmas Tree Shops’ Crystal Mall store used to share an anchor position with Bed, Bath & Beyond, which acquired Christmas Tree Shops in 2003 and sold it to Handil Holdings in 2020. Bed, Bath & Beyond closed its Crystal Mall store late last year and declared bankruptcy earlier this year.

The other Christmas Tree Shops stores in Connecticut are in Danbury, Manchester and Orange. The chain, founded on Cape Cod in the 1950s, once had stores in 20 states.

Crystal Mall, acquired last month by Namdar Realty Group and Mason Asset Management of Great Neck, Long Island, has one remaining anchor store, a JCPenney.

The mall’s new owners have yet to discuss their plans for the property with town officials.

b.hallenbeck@theday.com