Tuesday Morning files for bankruptcy and will close 230 stores

[truebluefan]

Discount home goods retailer Tuesday Morning filed for bankruptcy, blaming Covid-19 for prolonged store closures that caused an "insurmountable financial hurdle."

The Dallas-based chain said Wednesday it will permanently close approximately 230 of its nearly 700 US stores in cities where "too many locations are in close proximity." The first phase of closures, which includesaround 130 stores, will begin this summer.

Tuesday Morning (TUES) CEO Steve Becker said the business was thriving before the pandemic led totemporary store closures and employee furloughs that had "severe consequences on our business."

Read more https://www.cnn.com/2020/05/27/business/tuesday-morning-bankruptcy/index.html