Tuesday Morning (TUES) Files Chapter 11
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Tuesday Morning Corporation Files Chapter 11 to Pursue Financial and Operational Reorganization
May 27, 2020 6:26 AM EDTImmense Impact of COVID-19 Forced Prolonged Closure of Entire Store Portfolio, Creating an Insurmountable Financial Hurdle
Company Voluntarily Files for Protection under Chapter 11 to Reduce Outstanding Liabilities, Access Significant Capital and Realign Store and Distribution Footprint; Plans to Emerge Early Fall 2020
Company Secures Commitment for $100 Million Debtor-in-Possession (DIP) Financing to Support Continuity of Operations During Proceedings
Over 80% of Stores Have Re-Opened to Date; Additional Locations Will Continue to Open as State and Local Mandates Allow
Company Has Delivered Positive Comparable Store Sales... More
