Tuesday Morning to close two stores in Louisiana
Published 5:23 pm Sunday, February 19, 2023
Discount retailer Tuesday Morning has announced that two of its Louisiana stores will close — their Lake Charles store isn’t one of them.
The struggling business filed for bankruptcy this week for the second time in three years and has been forced to close more than half of its 487 stores across the United States.
The filing states the company “has too many stores and stores in unprofitable locations.”
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Before its first bankruptcy filing three years ago, the company had 687 stores, post this bankruptcy, it expects to operate about 200 stores.
The move to close stores will “enable the company to reduce its outstanding liabilities, obtain the significant and necessary capital, and ultimately transform into a nimbler retailer that serves heritage markets in a profitable manner.”
In a statement, Tuesday Morning executives said the business will “emerge as a stronger retailerthat draws on a legacy of offering a unique off-price value proposition to our loyal customer base.”
The two stores set to close in Louisiana are in Baton Rouge and Gretna.