Full list of home goods stores closing as big chain shuts half of all US shops in bid to save chain

HOME goods retailer Tuesday Morning is closing more than half of its locations nationwide after filing for bankruptcy.

More than 260 stores are set to shut down, with major closing sales going on at all affected locations.

The discount retailer filed for bankruptcy reorganization in Fort Worth, Texas on February 14.

Filing for Chapter 11 bankruptcy protection typically allows a business to keep trading while it restructures its debts.

At the time, Tuesday Morning said the move would “enable the company to reduce its outstanding liabilities, obtain significant and necessary capital, and ultimately transform into a nimbler retailer that serves heritage markets in a profitable manner.”

Approximately 263 stores across the country are set to be closed, although it's not yet confirmed when.

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The company has advertised that shoppers can find "everything on sale" as the locations hold closing sales.

"SAVE BIG ON OUR ORIGINAL LOW PRICES," Tuesday Morning has advertised.

The discount retailer has said that closing these locations will allow the company to focus its efforts on the most highly trafficked stores.

This is to ensure they can exit bankruptcy with a “profitable, cash-generating store fleet,” Tuesday Morning said last week.

Before the closures, Tuesday Morning had around 487 stores across 40 states.

However, in 2020, the popular chain had upwards of nearly 700 stores but the coronavirus pandemic forced the company to close hundreds of stores.

Tuesday Morning last filed for bankruptcy in March 2020.

Its most recent filing comes as the company is seeking to go private later this year.

If it meets all requirements by July 3, the company has said it could go private by September.

“After considering how best to address Tuesday Morning’s exceedingly burdensome debt, we have determined that the best path to reorganizing and transforming the Company begins with a Chapter 11 filing,” chief executive Andrew Berger said last week.

Normal operations at its remaining locations are expected to continue while the bankruptcy is pending, Berger detailed.

He also noted that store liquidator Gordon Brothers has been hired to handle the store closures.

OTHER STRUGGLING RETAILERS

Tuesday Morning’s store closures come as 10 other major retailers have been shuttering the doors of various locations across the country.

Bed Bath & Beyond, Walmart, CVS, Best Buy, Stop & Shop, Dillard’s, Macy’s, JCPenny, Old Navy, Banana Republic are closing anywhere from two to over 300 stores by the end of this year.

The largest grouping of closures comes from Old Navy and Banana Republic, whose parent company GAP said it is planning to shutter 350 stores by the end of 2023.

Meanwhile, retailers like JCPenny have been continuing store closures initially announced in 2020.

Bed Bath & Beyond is in the process of shutting down over 150 stores as it battles to avoid bankruptcy.

While other retailers like Walmart and Stop & Shop are closing underperforming locations.

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