Discount retailer Tuesday Morning is the latest chain to file for bankruptcy protection since the coronavirus pandemic began.
Company officials plan to close about 230 of its 687 stores, The Associated Press reported.
Tuesday Morning, like many other retailers, closed its stores in mid-March because of the COVID-19 pandemic.
The store joins five other companies -- including J.C. Penney, Neiman Marcus and J. Crew -- by heading to the courts to protect high-performance stores while closing those that do not perform.
Tuesday Morning was also hit by competition from other discount chains like T.J Maxx, Home Goods and Macy’s discount store Back Stage, the AP reported.
Tuesday Morning said the closures will come in phases, with the first targeting at least 132 stores. They are locations that are under-performing and in areas where there are other locations nearby.
>> Coronavirus: J. Crew files for bankruptcy as pandemic hammers bottom line
Since states have started to lift stay-at-home orders, the company has reopened more than 80% of affected stores with more to restart business in the next few weeks, the AP reported.
In a letter to customers, company CEO Steven Becker said the coronavirus closure “placed an immense strain on our business" and that the filing “will not impact our ability to continuing re-opening stores that were closed due to COVID-19.”
>> Neiman Marcus files for Chapter 11 bankruptcy amid coronavirus pandemic
To see the status of your local Tuesday Morning, click here.
Cox Media Group
