Tuesday Morning is the latest retail company to feel the negative impact of prolonged closures due to the coronavirus pandemic. Following similar announcements from JCPenney and Pier 1 Imports earlier this month, the discount home goods seller has also filed motions for Chapter 11 Bankruptcy protection.
The company’s formal announcement came in a press release that cited the COVID-19 pandemic as a major contributor to the bankruptcy filing, which means the closure of “approximately 230” of its nearly 700 stores, as well as a distribution center in Phoenix.
“The prolonged and unexpected closures of our stores in response to COVID-19 has had severe consequences on our business,” said Tuesday Morning Chief Executive Officer Steve Becker in the press release. “Prior to the pandemic, we were gaining momentum in our merchant organization, growing our vendor base and improving brands, assortment and value for our customers, while investing in our technology and corporate leadership team. However, the complete halt of store operations for two months put the Company in a financial position that can be effectively addressed only through a reorganization in Chapter 11.”
Locations that will be closing were “identified as underperforming or are situated in areas where too many locations are in close proximity,” according to the company.
The remaining Tuesday Morning locations across the U.S. will continue to operate as company leaders restructure the business to focus on successful locations and providing better inventory to customers, according to the release.
The company’s Instagram account continues to post updates about store re-openings after closures due to the pandemic, as well as deals available at stores that are already back up and running.
Tuesday Morning customers will still be able to shop and return items in most locations, as usual. However, any items bought at a store that is closing will be a final sale and won’t be eligible for a return to another store, according to the company’s FAQ page.
Any Tuesday Morning customer who has a Perks membership will also be able to take advantage of that savings program without any interruption throughout the reorganization process.
If you want to visit your local store, check the Tuesday Morning website to find out your location’s revised operating hours and health safety requirements, provided it isn’t scheduled to be shuttered.