Local Tuesday Morning not closing
TEXARKANA, Texas — The local Tuesday Morning will not be shuttered as a result of the bankruptcy plan set in motion by its parent company as announced this past Tuesday. Local employees of the store, which specializes in household interior goods, say that the store remains open for the time being, as they have assured customers.
They describe business coming to a sharp halt just before the COVID-19 shutdown in March. They closed their doors for a few weeks, even though the business had been deemed an essential one. But once they opened back up, customers came back.
Business will continue for the local Tuesday Morning for the time being as the company executes its plan under Chapter 11, navigating the economic stresses brought about by COVID-19 and subsequent events.
“The prolonged and unexpected closures of our stores in response to COVID-19 has had severe consequences on our business,” company officials said via a 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.
Chief Executive Officer Steve Becker says the company plans to emerge from Chapter 11 in a stronger position.
“The commitment from our lenders to provide access to significant capital demonstrates faith in our value-driven business model and iconic brand,” Becker said. “Looking ahead, we’ve been encouraged by very positive performance of the business as we continue to re-open our doors and welcome back our dedicated customers.”
Tuesday Morning will close approximately 230 of its 687 stores and focus on high-performing locations. The closure will take place over the summer.