DALLAS — After almost 50 years of business, a home decor company based in North Texas has announced that it's closing all of its doors for good.
Tuesday Morning shared on Monday morning that it has started shutting down their stores. It is also having a "Going Out of Business" sale happening now at all locations. Customers will get up to 30% off the lowest item they purchase.
Anyone with a gift card or a Merchandise Return gift cards can use them until Saturday, May 13.
As of Tuesday morning, there is no set date for when all stores will be closed.
Back in February, Tuesday Morning Corp. announced in a news release that it filed for Chapter 11 bankruptcy protection in the U.S. Bankruptcy Court for the Northern District of Texas, Fort Worth Division.
According to the Dallas Business Journal, the company was looking to reorganize itself financially and become a "nimbler retailer that [served] heritage markets in a profitable manner."
Part of its restructuring process at that time included closing stores in areas that weren't so popular. Tuesday Morning had 487 stores in 40 states.
The retailer previously emerged from Chapter 11 bankruptcy in 2021, funded through the net proceeds from a $70.25 million sale-leaseback of the company’s headquarters and warehouse facilities, a $110 million senior secured credit facility, proceeds from a $40 million equity rights offering and proceeds from a $25 million senior subordinated notes.
In September, Tuesday Morning entered an agreement to secure $32 million in convertible debt financing from a special purpose vehicle formed by Florida-based Retail Ecommerce Ventures.
Other local news:
Note: The following video was uploaded in Feb. 2023
