The stores are up for sale due to the retailer's bankruptcy restructuring.Tuesday Morning, the furniture and home improvement retailer will have to sell 263 stores in 38 states. The stores are up for sale due to the retailer's bankruptcy restructuring. A&G Real Estate Partners is acting as a consultant for the sale.
Tuesday Morning filed for bankruptcy on Feb. 14, the second time it has filed for bankruptcy since 2022. At the time, the retail chain had about 700 stores. By early 2023, the retailer had 487 outlets left.
By closing unprofitable outlets, Tuesday Morning expects to focus on its core distribution channels and successfully reorganize its business. Last week, the retailer had raised an additional $12.5 million from Gordon Brothers.
Tuesday Morning declared bankruptcy in 2020, closing about 200 stores and a distribution center in Arizona. Lenders have recently been denying the retailer long-term loans, complicating the situation amid unstable customer demand.
The stores for sale are freestanding outlets and outlet malls in formats ranging from 6,000 to 28,000 square feet.
Tuesday Morning is an American discount convenience store headquartered in Dallas, Texas. Founded in 1974, the company has nearly 500 locations nationwide. On February 14, 2023, Tuesday Morning once again filed for Chapter 11 bankruptcy. The company then proceeded to close roughly half of all stores nationwide, including nearly all of its stores in California.
13 MARCH 2023, USA