DALLAS (WBAP/KLIF) – Tuesday Morning filed voluntary petitions for protection under Chapter 11 of the Bankruptcy Code in the United States Bankruptcy Court for the Northern District of Texas, Wednesday. The company says ultimately, this process will provide Tuesday Morning with an opportunity to
continue navigating the COVID-19 pandemic and emerge as a stronger company by early fall 2020.
Company CEO Steve Becker says “The prolonged and unexpected closures of stores in response to Covid-19 had severe consequences on the business.”
The company expects to close approximately 230 of its 687 stores over the summer.
About 80% of the stores are back open after being shut down because of the pandemic. The Chapter 11 process is not expected to impact the Company’s ability to re-open stores closed due to COVID-19 and it will continue to do so in accordance with state and local mandates where the Company operates.
(Copyright 2020 WBAP/KLIF News. All Rights Reserved)
