Troubled discount home-goods retailer Tuesday Morning Corp. will close more than half its locations nationwide after filing for Chapter 11 bankruptcy...
Troubled discount home-goods retailer Tuesday Morning Corp. will close more than half its locations nationwide after filing for Chapter 11 bankruptcy protection for the second time in three years.
“We... Troubled discount home-goods retailer Tuesday Morning Corp. will close more than half its locations nationwide after filing for Chapter 11 bankruptcy protection for the second time in three years. “We have determined that the best path to reorganizing and transforming the company begins with a Chapter 11 filing,” Berger said in a statement. “Fortunately, we have the support of a committed capital provider in Invictus and a clear vision for transforming into a focused retailer that serves its core, heritage markets in a profitable manner.”
Tuesday Morning said it currently operates 487 stores in 40 states, and it employed about 1,600 full-time and 4,700 part-time workers according to its most recent 10-K filing.“The company believes this targeted approach to winding down unprofitable and underperforming stores will position Tuesday Morning to emerge from bankruptcy with a profitable, cash-generating store fleet that serves its most engaged and loyal customers,” Tuesday morning said in a statement.
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