Texas-Based Retailer Tuesday Morning Is Going Out Of Business
Lubbock is losing another long-term business.
Another home goods store is closing for good. Dallas-based retailer Tuesday Morning is going out of business after being sold out of bankruptcy. A liquidation company purchased the company on Thursday.
This isn't the first time Tuesday Morning has hit a rough patch. In fact, in February the retailer filed a second bankruptcy in three years. Given the problems, Tuesday Morning had begun shutting down stores in recent years but still operates 59 stores in Texas, including one location here in Lubbock which been open for over 30 years.
According to the Dallas Morning News, all stores across the company will wind down operations over the next few weeks.
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.
As of 11:00 a.m. on Friday, no plans have been made for the Lubbock location but that is expected to change.
Home goods stores have been hit hard in recent years, including Bed, Bath, and Beyond, as consumers are increasingly going online to purchase home items. Tuesday Morning has operated in Lubbock for over 30 years.