Is Tuesday Morning going out of business?
Yes, Tuesday Morning has announced that it is going out of business and will be closing all of its remaining stores.
What is the reason for Tuesday Morning’s financial troubles?
Tuesday Morning’s financial struggles were exacerbated by a significant increase in reserve requirements by its creditors, which severely impacted its operating liquidity and contributed to its difficult financial position.
Are there going-out-of-business sales at Tuesday Morning?
Yes, going-out-of-business sales have begun at all Tuesday Morning stores, with all merchandise being sold at a 30% discount off the lowest ticketed price.
Are there any other retailers facing closures?
Yes, Bed Bath & Beyond, another major home goods retailer, is also closing all of its stores and has filed for bankruptcy.
How many stores and employees are affected by Tuesday Morning’s closure?
Tuesday Morning had 487 stores in 40 states and employed about 1,600 full-time and 4,700 part-time workers at the time of its latest bankruptcy filing.
What is the timeline of Tuesday Morning’s financial troubles?
Tuesday Morning filed for its second bankruptcy in February. Its previous bankruptcy filing occurred three years ago, and since then, the company has faced continued challenges.
What is the impact on gift cards and returns?
Tuesday Morning will honor gift cards until May 13, allowing customers to use their remaining balances during the store closing event. Customers who made purchases before April 28, 2023, can still return items within 14 days with the original receipt.
Which states will be affected by Tuesday Morning’s closures?
Tuesday Morning’s closure affects stores in Alabama, Arkansas, Arizona, Florida, Georgia, Idaho, Illinois, Indiana, Kansas, Kentucky, Louisiana, Maryland, Michigan, Missouri, Mississippi, North Carolina, North Dakota, New Mexico, Ohio, Oklahoma, Pennsylvania, South Carolina, Tennessee, Texas, and Virginia.
What does the future hold for Tuesday Morning?
With the closure of all its stores and the completion of its liquidation sale, the future of Tuesday Morning as a retailer is uncertain.
