Tuesday Morning

Tuesday Morning Corporation is one of the original American discount closeout retailers that specializes in offering name-brand household merchandise at prices below those of department and specialty stores. The company was founded in 1974 and is headquartered in Dallas, Texas.
Despite being a long-standing player in the retail industry, Tuesday Morning Corporation filed for Chapter 11 bankruptcy in May 2023 due to declining sales and increased competition from online retailers. As a result of the bankruptcy, the company announced the closure of all 600 of its stores across the United States.
The closure of Tuesday Morning's stores will impact over 9,000 employees and marks another setback for the retail industry as brick-and-mortar stores continue to struggle against online competition and shifting consumer preferences.
== History ==
Tuesday Morning was established in 1974 by Lloyd Ross. Ross worked with manufacturers to buy their excess merchandise and host limited-time warehouse sales to offer these goods at a discount to the public. The company moved to a pop-up retail location in 1979 with seasonal events. The company went to full-time retail operations in 1979 and went public in 1984 with 57 stores. At its peak in 2018, the company operated over 700 locations and had sales of over $1 billion. Tuesday Morning focuses on discount home goods.
In May 2020, after extended store closures due to the COVID-19 pandemic, the company filed for Chapter 11 bankruptcy reorganization and was delisted from the American Stock Exchange. During the reorganization process the company closed close to 200 unprofitable store locations and a distribution center.
In December 2020, the company emerged from bankruptcy with a rights offering, enabling the ability to pay all vendor claims in full and protect shareholder value. Upon emerging, the company established a new executive leadership team who has failed to live up to expectations and tanked the companies stock from $4+ per share down to .30 cents per share in just over one years time.  On May 25, 2021 the company was re-listed on the NASDAQ stock exchange under TUEM.
== Bankruptcy ==
According to the CNN article from May 2nd, 2023, Tuesday Morning, a discount home decor and furniture retailer, announced that they would be closing all 600 of their stores across the United States after filing for Chapter 11 bankruptcy. The company cited declining sales and increased competition from online retailers as the main reasons for their financial struggles.
The closure will impact over 9,000 employees who will lose their jobs as a result of the liquidation. Tuesday Morning stated that they will be offering severance packages and job placement assistance to affected employees.
The company, which has been in operation for over 50 years, had been struggling financially for some time and had closed over 200 stores in the past two years. Despite efforts to turn the business around, the COVID-19 pandemic and subsequent economic downturn further impacted their sales.
Tuesday Morning's closure marks yet another casualty in the retail industry as brick-and-mortar stores continue to struggle in the face of online competition and shifting consumer preferences.
== See also ==
# HomeGoods - Competitor 
# Marshalls - Competitor
# T.J. Maxx - Competitor
# Big Lots - Competitor
# Bed Bath & Beyond - Soon To Be Former Competitor
=== Former Competitors ===
# Linens 'n Things
# Borders Group
# Pier 1 Imports
# Levitz Furniture
# Toys "R" Us
Category:Department stores
Category:Discount stores
Category:Retailers by type
Category:Retailers
Category:Retailers that filed for bankruptcy
Category:Soon to be Defunct
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Category:Franchises
Category:Brands
Category:North America
Category:USA
Category:Defunct
Category:Defunct retailers