Dallas – When it filed for Chapter 11 chapter final February, Tuesday Morning hoped to emerge with a decreased retailer base and rebuild it enterprise. Now, it’s dropping by the wayside.
The corporate is closing all shops and going out of enterprise. The off-price dwelling items retailer has been acquired by Hilco Merchant Resources for $32 million by way of a court-approved chapter sale, ALM reported.
Tuesday Morning went into its 2023 chapter with 487 shops and a plan to pare right down to 218 items. That’s roughly one-third of the 687 shops the corporate operated when it entered its first Chapter 11 reorganization in Could 2020. The retailer emerged from that chapter reorganization in early 2021 with 490 items.
Retailer closings are anticipated to wrap up inside just a few weeks. Places are honoring present playing cards via Could 13.
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