The retailer has filed for bankruptcy, citing fallout from temporary closures related to the COVID-19 pandemic
In a Tuesday, Feb. 21 posting,This is Tuesday Morning’s second bankruptcy in three years. The Dallas-based retailer cited continuing fallout from temporary store closures related to the COVID-19 pandemic.
“We look forward to playing an important role in reorganizing and transforming Tuesday Morning,” said Amit Patel, a partner with Invictus. “As a Texas-based investment firm with strong roots in the state, we have long admired Tuesday Morning’s strong connection to customers seeking unique home goods at competitive prices.”Tuesday Morning’s dilemma is nothing new.
“Before COVID-19 about one in eight purchases in retail were done online,” he said. “Now it’s about one out of every five.” Tuesday Morning has reopened around 80% of its stores in recent weeks and has brought 7,000 employees back to work, CNN said. It said sales are up 10% compared with the same time period a year earlier.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
San Diego lands 8 teams in CIF Southern California water polo playoffs, which start Tuesday nEl Camino claims top spot in Division II bracket, will host Coronado at Oceanside's new William Wagner Aquatic Center
Read more »
San Diego lands 8 teams in CIF Southern California water polo playoffs, which start TuesdayEl Camino claims top spot in Division II bracket, will host Coronado at Oceanside's new William Wagner Aquatic Center
Read more »
Discount retailer Tuesday Morning files for bankruptcy, will close 31 California storesTuesday Morning joins a growing number of financially distressed retailers that have filed for bankruptcy this year.
Read more »
Retailer Tuesday Morning to close more than half its stores following bankruptcyTroubled discount home-goods retailer Tuesday Morning Corp. will close more than half its locations nationwide after filing for Chapter 11 bankruptcy...
Read more »
Arrest made in killing of Catholic bishop in Southern CaliforniaA suspect has been arrested in the killing of Catholic Bishop David O'Connell, who was fatally shot over the weekend in the Los Angeles area, authorities said Monday.
Read more »