Furniture and home goods are sold at a Tuesday Morning store in Petaluma, Calif. The location is among hundreds nationwide that are slated for closure.— and more than half of its locations nationwide — after filing for Chapter 11 bankruptcy protection last week.
It’s the second time Tuesday Morning has filed for bankruptcy protection in three years. Challenges from the pandemic including temporary closures and employee furloughs forced the Dallas-headquartered company toIn a statement released Tuesday, CEO Andrew Berger said the company is still facing an “exceedingly burdensome debt” and needs to restructure and optimize its store footprint to retain a viable business.
Pending closures in the Bay Area include locations at Redwood Gateway in Petaluma, at San Marin Plaza in Novato and on Blossom Hill Road in San Jose.
“The Company believes this targeted approach to winding down unprofitable and underperforming stores will position Tuesday Morning to emerge from bankruptcy with a profitable, cash-generating store fleet that serves its most engaged and loyal customers,” the statement from Tuesday Morning read.
Source: News Formal (newsformal.com)
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