Tuesday Morning is going out of business and closing all of its stores

By Jordan Valinsky, CNN Business . It is the second major US home goods retailer to go bust in recent days.

The retailer announced on Facebook and its website that it has started a going-out-of-business sale with 30% off discounts on its products sold at its roughly 200 remaining stores. It's a somber ending for the 49-year-old retailer after it filed for its second bankruptcy in three years. Tuesday Morning said in February 2023 that it was restructuring because of its"exceedingly burdensome debt." Its first bankruptcy happened in May 2020, during the peak of the pandemic because of prolonged store closures that caused an"insurmountable financial hurdle.

Consumer spending has slowed down in the face of inflation, and interest rates have increased, making it costlier for companies to borrow. It joins a growing number of financially distressed retailers that have filed for bankruptcy this year.The-CNN-WireTags The business news you need Get the latest local business news delivered FREE to your inbox weekly.

Canada Canada Latest News, Canada Canada Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Tuesday Morning Is Going Out of Business and Closing All StoresDiscount retailer Tuesday Morning is officially going out of business and closing all 200 of its remaining stores.
Source: BestLifeOnline - 🏆 533. / 51 Read more »

Dallas retailer Tuesday Morning holding huge going out of business saleOver the weekend, the home decor store announced it is closing all of its stores after 49 years in business.
Source: FOX4 - 🏆 289. / 63 Read more »

Texas-based Tuesday Morning going out of business, holding liquidation salesAnother home goods retailer is winding down operations after filing for bankruptcy — twice — and selling to a liquidation company. Dallas-based Tuesday Morning is going out of business following years of low sales and downsizing. It is closing its headquarters in North Dallas and all stores, including eight in the San Antonio area.
Source: ksatnews - 🏆 442. / 53 Read more »