Late response, pretty sure care tree did not go under.
They were loosing ground quick in my part of the country to other spade companies though. Lots of nurseries around here abandon care tree spades do to the simple fact there was better, more reliable spades available plus,the local dealer manager that sold care tree is arrogant, wich did not help sales neither. Care tree spades did number fairly high around here but that has quickly been changing.
Care tree did revamp there spade design, A very good move I believe. They look ALOT like a dutchman or a red boss spade now.
Our contract diggers use dutchman and lemar spades.... Having ditched care tree altogether
I stumbled across this post doing an internet search. The company that owned Caretree (Shaver Mfg.) is still in business but discontinued the Caretree product line in June of 2011. I was one of the ones that used to work there.
If you need parts there is a guy in Tennessee who still supplies a lot of the common parts. His name is Phil Prichard at Prichard Nursery Equipment and his # is 423-413-7225. He worked for Caretree a number of years ago and knows a lot about the spades. He should be able to help anyone out.