Posted on 05/02/2023 12:11:41 PM PDT by Red Badger
Retailer Tuesday Morning, a fixture in the home goods market for almost 50 years, is closing all of its stores.
The retailer announced the closings on its website. No official closing date was announced.
According to the Houston Chronicle, the discount home goods chain filed for Chapter 11 bankruptcy protection in February. It had previously filed for Chapter 11 protection in 2020 while trying to reorganize.
The Chronicle reported that Tuesday Morning was granted a request to allow Hilco Global to sell all of its merchandise, Hilco Global is buying Tuesday Morning for $32 million.
Tuesday Morning has stores in 25 states that will be closing, according to KLFY-TV in Lafayette, Louisiana.
The Dallas Morning News reported that as of February, Tuesday Morning had 487 stores in 40 states. It since closed about 265 stores.
The company was founded in Dallas in 1974. The closing means that in addition to store closings within the next few weeks, all the employees at Tuesday Morning’s North Dallas headquarters will lose their jobs.
The demise of Tuesday Morning comes amid a massive shakeup in the retail industry.
Late last month, Bed Bath & Beyond filed for reorganization under Chapter 11 of the federal bankruptcy laws.
CNN noted that retail sector bankruptcies are rising. The outlet cited relatively recent filings by Party City, mattress manufacturer Serta Simmons and Independent Pet Partners, a pet store retailer. David’s Bridal, a national wedding gown store, filed for Chapter 11 reorganization recently, as well.
A report by Insider prior to the Tuesday Morning announcement estimated 1,400 retail stores are in the process of closing.
A CBS report said the nation has lost roughly 2,000 stores in the past year.
Completing this poll entitles you to our news updates free of charge. You may opt out at anytime. You also agree to our Privacy Policy and Terms of Use. Experts at UBS said that over the next five years, up to 50,000 stores might close, a number that could hit 90,000 if the economy goes into a long recession.
The report estimates there are 940,000 stores and that the prediction “simply implies that there will be 5% fewer stores by the end of 2027,” analysts said.
Now we'll have to wait for Tuesday afternoon.
In the last couple of years here we have lost Sears, JC Penney, K-Mart, Bed Bath & Beyond, McRae’s, Dillards, and now Tuesday Morning....................
And nothing about the wreckage from Biden canceling planned natural gas development and usage, will affect the “MIT” genius climate change club at the NBER. (www.nber.org)
Build back better
Before Biden is done we’ll be lucky if there any going concerns left.
My wife just told me that she and our daughter used to love to go there and proceeded to tell me the household items she bought there.
Tuesday Morning was a classic 'treasure hunt' store... lots of junk with really cool treasures mixed in from time to time. I tend to be careful with money - and for someone like me it was a perfect for kitchen supplies, towels, wash cloths dishes etc. Sorry to see them go under.
Tuesday Morning = junk store version of bed bath & beyond ...
“transgender silhouette targets”
And don’t think it’s a coincidence that silhouettes are black!
Never heard of them
“It had to be on a Tuesday; they’re closed otherwise.”
ROTFLOL!
Yeah, not impressed. It reminded me of a dollar store.
Great unusual items!
Now we'll have to wait for Tuesday afternoon.
And here it is. Tuesday Afternoon
👍
Nobody’s going to remember Tuesday Morning.
Tuesday Afternoon, however, is a classic.
This will become a national trend under Biden. Next step: anything to do with lawnmowers and small gas engines will disappear around 2040 when no gas engine driven lawnmowers are allowed to operate. Then comes our defense industry when we will have to produce electrically driven tanks. Wait for the CCP to invade US with their gas driven tanks riding roughshod over ours. Wait for electric motor driven air planes. America is on a suicidal path. By that time there will be an army of jobless and homeless men and women pitching their tents on every sidewalk, occupied by migrants that are now invading us. Sorry to sound so downcast on this Tuesday afternoon. Just hope that our farm and food industry will be allowed to continue using fossil fuels or be prepared to go veeery hungryand freezing in winter and burning up in summer. Don’t worry about the American dream. What dream? What America?
We like going there for pet toys and other pet supplies.....one of few places that have merch for a 5 pound dog.
Noobies.....can’t live with ‘em can’t flush ‘em. 😏
Well, narrow, stuff just piled everywhere. Like a Dollar store but with worse lighting.
Maybe the one here was exceptionally bad?
Sorry that a place you liked is going out of business, score another one for Brandon
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