The ongoing financial issues of discount retailer Tuesday Morning has led to them selling everything in the store- including fixtures and equipment.
Last month I wrote an article about the discount retailer known as Tuesday Morning closing five of its stores in Illinois.
All items were on sale, but now there is a new development with the company literally selling everything in the store- including fixtures and equipment.
Let's take a look at the ongoing story.
Tuesday Morning
Tuesday Morning was founded in Texas in 1974.
Several years ago, it had 687 stores across the United States, but it has faced many financial issues since then. Last month the company filed for bankruptcy; it was the second bankruptcy filing for the company in three years.
At the time of the filing, it also announced it would close over half of its stores, including five in Illinois. In 2020, it closed three stores in Illinois.
Once these stores are closed, there will be just 215 left in the United States, and Illinois will have gone from ten Tuesday Morning stores to two in just three years.
In announcing the store closures, the company stated it would:
“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.”
Tuesday Morning stores closing in Illinois:
- Western Springs: Garden Market, 4700 Gilbert Street, Suite 25
- Champaign: Marketview Center, 45 E Marketview Dr.
- Springfield: Town And Country Shopping Center, 2345 S. MacArthur Blvd.
- Peoria: University Square, 1401 West Glen, Suite A
- Niles: Village Crossing S/C, 5613 W. Touhy Ave.
The stores listed for closure above offered sales on all items, and savvy shoppers took advantage of this by snapping up bargains.
Now the website has been updated to state that even the store fixtures and equipment can be bought, advising customers to speak with the store manager.
It remains to be seen how much extra funds the business will gain from selling off fixtures and equipment, and customers buying merchandise on sale at Tuesday Morning stores closing due to bankruptcy should note that returns are not allowed.
I will continue to update readers with any new developments in this story.
For the latest list of all stores closing in Illinois, please check out this article. To keep up to date with the latest retail developments but sure to follow me.
Your thoughts
Do these store closures affect you? Will you visit one of these stores to find a bargain? Are you concerned about the number of retail stores closing in Illinois? Should the government offer more financial support for struggling retail businesses?
Please leave your thoughts in the comment section below and share this article on social media so more people can join the discussion.
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