ST. LOUIS — Tuesday Morning Corp. announced in a news release on Tuesday that it has filed for Chapter 11 bankruptcy protection in the U.S. Bankruptcy Court for the Northern District of Texas, Fort Worth Division.
The Dallas-based retailer of (OTC: TUEM) home goods and decor is seeking the financial and operational reorganization as a means to shore up outstanding liabilities, obtain capital and evolve into a "nimbler retailer that serves heritage markets in a profitable manner," the release stated.
Part of the restructuring process is set to include closing stores in low-traffic regions as Tuesday Morning pursues the optimization of its footprint and a focus on core and heritage markets.
The company currently operates 487 stores in 40 states, including four in the St. Louis area. Those are in Ellisville, Creve Coeur, Olivette and South County.
Click here for the full story from the St. Louis Business Journal.
