The discount retail chain Tuesday Morning is closing all of its remaining stores, including its outlet in Hixson and nearby locations in Cleveland, Tennessee, and Dalton, Georgia.
In an announcement over the weekend, Tuesday Morning said a going-out-of-business sale has started with savings of up to 30% off. The company says gift cards and merchandise return gift cards will be accepted through May 13. But the Tuesday Morning stores are being closed by June in the latest casualty for brick-and-mortar retail chains.
In February, Tuesday Morning filed a Chapter 11 bankruptcy petition to reorganize its finances for the second time in three years. The retailer secured $51 million in financing to keep its stores open at that time and shuttered more than half of its stores in March with promises it would “emerge as a stronger retailer.”
But even at a smaller size, the company said it can no longer stay afloat, and the business was sold two weeks ago to the liquidation firm Hilco Merchant Resources for $32.1 million, according to bankruptcy filings in Texas.
The latest closings include 10 stores in Tennessee, 12 in Georgia and 10 in Alabama. In Southeast Tennessee, Tuesday Morning operates a store in the Highland Plaza shopping center at 3901 Hixson Pike and in the Cleveland Corners at 820 25th St. NW in Cleveland, Tennessee. Those stores are scheduled to close in June.
In March, Tuesday Morning closed its store in Dalton, Georgia. At one time, Tuesday Morning had more than 700 stores, including another outlet in Eastgate Mall in Chattanooga.
The closings of the Tuesday Morning stores come on the heels of the announcement last week that Bed Bath & Beyond is also soon shutting down completely.
Like Tuesday Morning, Bed Bath & Beyond filed a Chapter 11 petition to reorganize under federal bankruptcy court protection. But the restructuring failed and Bed Bath & Beyond is closing its remaining 360 stores, plus another 120 buybuy Baby stores, including its store in Shoppes at Hamilton Place in East Brainerd.
According to the Chapter 11 filing, the retailer expects all stores to close for good by June 30.
A recent tally of store closings by Business Insider found more than 1,400 retail stores are scheduled to shut down in 2023 across the United States as online competition and a softer economy weakens sales at some traditional brick-and-mortar stores.
Contact Dave Flessner at dflessner@timesfreepress.com or 423-757-6340.