BY Jack Davis, The Western JournalMay 2, 2023
1 year ago
BY 
 | May 2, 2023
1 year ago

National Retailer Going Out of Business, All Stores Across Country Set to Close

Retailer Tuesday Morning, a fixture in the home goods market for almost 50 years, is closing all of its stores.

The retailer announced the closings on its website. No official closing date was announced.

According to the Houston Chronicle, the discount home goods chain filed for Chapter 11 bankruptcy protection in February. It had previously filed for Chapter 11 protection in 2020 while trying to reorganize.

The Chronicle reported that Tuesday Morning was granted a request to allow Hilco Global to sell all of its merchandise, Hilco Global is buying Tuesday Morning for $32 million.

Tuesday Morning has stores in 25 states that will be closing, according to KLFY-TV in Lafayette, Louisiana.

The Dallas Morning News reported that as of February, Tuesday Morning had 487 stores in 40 states. It since closed about 265 stores.

The company was founded in Dallas in 1974. The closing means that in addition to store closings within the next few weeks, all the employees at  Tuesday Morning’s North Dallas headquarters will lose their jobs.

The demise of Tuesday Morning comes amid a massive shakeup in the retail industry.

Late last month, Bed Bath & Beyond filed for reorganization under Chapter 11 of the federal bankruptcy laws.

CNN noted that retail sector bankruptcies are rising.  The outlet cited relatively recent filings by Party City, mattress manufacturer Serta Simmons and Independent Pet Partners, a pet store retailer. David’s Bridal, a national wedding gown store, filed for Chapter 11 reorganization recently, as well.

A report by Insider prior to the Tuesday Morning announcement estimated 1,400 retail stores are in the process of closing.

A CBS report said the nation has lost roughly 2,000 stores in the past year.

[firefly_poll]

Experts at UBS said that over the next five years, up to 50,000 stores might close, a number that could hit 90,000 if the economy goes into a long recession.

The report estimates there are 940,000 stores and that the prediction "simply implies that there will be 5% fewer stores by the end of 2027," analysts said.

This article appeared originally on The Western Journal.

Written by: Jack Davis, The Western Journal

NATIONAL NEWS

SEE ALL

Everyone Except Melania Wishes Trump Happy Birthday

According to a Daily Beast report, numerous public figures expressed their well-wishes for former President Donald Trump on his 78th birthday, while Melania Trump remained…
20 hours ago
 • By Staff Writers

Bill Maher Clashes With Charlamagne Tha God Over Racial Commentary

During a recent episode of "Real Time with Bill Maher," host Bill Maher and radio personality Charlamagne Tha God engaged in a fiery debate about…
20 hours ago
 • By Staff Writers

Man Admits to Killing Girl and Abduction, Requests Death Penalty

A Louisiana man, David Callihan, has admitted to abducting two children and killing one of them in a possible human trafficking case.  Callihan, 36, confessed…
20 hours ago
 • By Robert Cunningham

Murphy: SCOTUS Increasingly Political And Corrupt According To Senator

During a televised interview on CNN's "State of the Union," U.S. Senator Chris Murphy strongly criticized the U.S. Supreme Court, highlighting what he perceives as…
20 hours ago
 • By Staff Writers

CNN Sets Stage For First Presidential Debate Featuring Biden And Trump, RFK Jr. May Join

According to Fox News, CNN has established the guidelines for an upcoming debate in Atlanta on June 27. The event will feature President Joe Biden…
23 hours ago
 • By Staff Writers

DON'T WAIT.

We publish the objective news, period. If you want the facts, then sign up below and join our movement for objective news:

    LATEST NEWS

    Newsletter

    Get news from American Digest in your inbox.

      By submitting this form, you are consenting to receive marketing emails from: American Digest, 3000 S. Hulen Street, Ste 124 #1064, Fort Worth, TX, 76109, US, http://americandigest.com. You can revoke your consent to receive emails at any time by using the SafeUnsubscribe® link, found at the bottom of every email. Emails are serviced by Constant Contact.
      Christian News Alerts is a conservative Christian publication. Share our articles to help spread the word.
      © 2024 - CHRISTIAN NEWS ALERTS - ALL RIGHTS RESERVED
      magnifier