Tuesday Morning Files for Bankruptcy and Announces Closure of 230 Stores
An American off-price retail chain has announced the closure of more than 200 stores nationwide. One of those stores is here in the East Alabama area. Tuesday Morning has filed for Chapter 11 bankruptcy and has announced the closure of 230 out of 687 of its stores. This includes the closure of its store inside the Riverview Shopping Plaza in Gadsden. Chief Executive Officer Steve Becker says the unexpected closures is a result of the strain COVID-19 has placed on the business. Through filing bankruptcy, Becker hopes this will allow the business to reorganize and remerge as the leading home goods off-price retailer. Stores will begin closing next month.