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.
CVS bought Aetna
I dont think they are going anywhere
That list is a mixed bag—with some solid choices for collapse.
However, the retail drug chains will consolidate some losing stores (do to shoplifting/employee theft by unfriendly natives and jurisdictions that ban prosecution of same) but the vast majority of their stores will remain due to the demand for pharmacies by an increasingly elderly population.
Aetna Inc. is an American managed health care company that sells traditional and consumer directed health care insurance and related services, such as medical, pharmaceutical, dental, behavioral health, ... Wikipedia
Parent organization: CVS Health Corporation
Headquarters: Hartford, CT
Founder: Eliphalet Adams Bulkeley
Founded: 1853
Number of employees: 47,950 (2018)
Subsidiaries: Coventry Health Care; Healthagen; Active Health Management; Aetna International; First Health PPO Network
Disclaimer
https://www.google.com/search?q=Aetna&rlz=1CAXGER_enUS827&sourceid=chrome&ie=UTF-8
And no real.bargains, either.
So you are saying that the pharmacies have been spun off?
A shame more victims of inflation and internet sales miss stores like Sears Montgomery wards a one stop shop you you seen what you were buying and not wondering when the guess kit arrived.
Had four wrong item from Amazon and other places reship and wait a few more days to get it right never again.
Not saying anything other than that is a clip from an
article I linked to. Click on the link I provided and
make your on decision.
Was that THIS morning?
The name of the chain is ‘Tuesday Morning’...................
I know. Couldn’t resist how the article came out Tuesday morning about Tuesday Morning.
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