Dallas-based Tuesday Morning Corp. is going out of business after being sold out of bankruptcy Thursday to a liquidation company.
The retailer, which in February filed a second bankruptcy in three years, has been closing stores in recent years, but it still has 59 stores in Texas, including 18 in the Dallas-Fort Worth area.
The closings come as Bed Bath & Beyond is also shutting down operations. That’s a lot of inventory hitting the market, possibly putting a dent in home goods sales at other retailers for the next few months.
The sale of Tuesday Morning, founded in Dallas in 1974 as a closeout retailer of gift and home merchandise, was approved at an afternoon hearing Thursday before Judge Edward L. Morris in the Fort Worth division of the U.S. Bankruptcy Court for the Northern District of Texas.
Hilco Merchant Resources is paying more than $32 million for the company. The liquidation means a couple thousand employees at Tuesday Morning’s North Dallas headquarters and stores will be terminated as store operations wind down over the next few weeks.Source: NBCDFW