Tuesday Morning files bankruptcy for the second time, closing last 2 Delaware storefronts
Delaware’s two remaining Tuesday Morning stores will be closing, the company announced on Tuesday.
Tuesday Morning, a Dallas, Texas-based company, is an off-price retailer specializing in name-brand products for homes that are sold at prices below those found in boutiques, specialty and department stores, catalogs and online retailers.
Which locations are closing?
The company opened its first store in 1974 and currently operates in 40 states, with two of its brick-and-mortar locations found in Delaware. One is Lantana Square in Hockessin and the other is in the Rehoboth Mall in Rehoboth Beach.
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Earlier this week, the company filed for Chapter 11 bankruptcy protection for the second time since the pandemic began, resulting in the closure of 263 stores.
Their first bankruptcy filing, in May of 2020, resulted in the closure of a previous Tuesday Morning location in Concord Square. This effort was part of a move that cut the company’s storefront presence from 700 locations to 487.
The company cited “unprofitable and underperforming stores” in low-traffic regions as a reason for the closures, adding that this will allow resources to be allocated to remaining stores in high-traffic regions that serve the company’s “most engaged and loyal customers,” according to a press release.
"After considering how best to address Tuesday Morning’s exceedingly burdensome debt, we have determined that the best path to reorganizing and transforming the Company begins with a Chapter 11 filing," said Andrew Berger, the company's CEO. "We look forward to taking steps that enable us to emerge as a stronger retailer that draws on a legacy of offering a unique off-price value proposition to our loyal customer base."
Despite the announcement of store closures, the company did not share when locations would be shut down for good. Until then, each store slated for closure is holding a sale on remaining inventory.
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This article originally appeared on Delaware News Journal: Delaware's Tuesday Morning locations closing due to bankruptcy
