Tuesday Morning Closing Half of its Stores Nationwide
Dallas-based off-price retailer Tuesday Morning has announced it will close over half of its 487 stores across the country, including one in Aiken.
Tuesday Morning currently operates stores in 40 states, including Georgia and South Carolina. Stores will be closing in 38 of the 40 states. The location on Whiskey Road in Aiken is among those on the closure list, but the store in the Washington Corner Shopping Center on Washington Road in Augusta will remain open.
A news release from the company says it filed for Chapter 11 bankruptcy protection on February 14, the second time it has done so in the past three years. A handful of Tuesday Morning locations have closed in the last few months, but a 10% drop in sales compared to a year ago prompted officials to announce the upcoming closures. “Results were inline with expectations based on the challenging consumer environment,” said CEO Andrew Berger.
The press release reads, “the company is hoping to emerge from bankruptcy with a profitable, cash-generating store fleet that serves its most engaged and loyal customers.”
