Tuesday Morning, a home products retailer for nearly 50 years, is closing all of its locations.
The closures were published on the retailer’s website. There was no formal ending date announced.
According to the Houston Chronicle, the budget home products retailer declared Chapter 11 bankruptcy in February. It had previously filed for Chapter 11 bankruptcy protection in 2020 in an attempt to reorganize.
Major retailer will be closing several shops within weeks – see full list https://t.co/9vnyDXOT58 pic.twitter.com/40LDYjeYED
— Daily Mail Online (@MailOnline) April 27, 2023
According to the Chronicle, Tuesday Morning was granted a request to allow Hilco Global to sell all of its items, and Hilco Global is buying Tuesday Morning for $32 million.
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According to KLFY-TV in Lafayette, Louisiana, Tuesday Morning stores will close in 25 states.
According to the Dallas Morning News, Tuesday Morning had 487 locations in 40 states as of February. It has since closed around 265 locations.
Tuesday Morning closing all stores https://t.co/xJGOKPtKWB
More stores going bankrupt in Joe Biden’s failed America.
— Pat C in Central FL 🏝☀️ (@BeachCity55) May 1, 2023
In 1974, the company was started in Dallas. The closure means that, in addition to store closures in the coming weeks, all employees at Tuesday Morning’s North Dallas headquarters will be laid off.
Tuesday Morning’s fall coincides with a huge upheaval in the retail business.
Biden Administration Help Create Retail Apocalypse!
Brick and Mortar store closings since Feb 2021👇 pic.twitter.com/48n6aQJWwp
— Patriot Dad ❤️✝️🇺🇸 (@NickCAdams) April 29, 2023
Bed Bath & Beyond filed for restructuring under Chapter 11 of the federal bankruptcy laws late last month.
According to CNN, retail sector bankruptcies are on the rise. The source noted recent filings by Party City, Serta Simmons, a mattress manufacturer, and Independent Pet Partners, a pet store retailer. David’s Bridal, a nationwide bridal gown retailer, recently filed for Chapter 11 restructuring as well.
Prior to the Tuesday Morning announcement, Insider reported that 1,400 retail outlets were in the process of closing.
According to a CBS investigation, the country has lost almost 2,000 stores in the last year.
According to UBS analysts, up to 50,000 retailers may collapse over the next five years, with the number increasing to 90,000 if the economy enters a severe recession.
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According to the survey, there are 940,000 stores, and the prognosis “simply implies that there will be 5% fewer stores by the end of 2027,” according to analysts.
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