Discount retailer Tuesday Morning filed for bankruptcy on Tuesday.
The move comes as the firm plans to reorganize its retail footprint to regain profitability.
- Tuesday Morning said it had assets and liabilities each in the range of $100M to $500M.
- The company plans to shrink its overall store footprint and focus on its most trafficked outlets as part of its restructuring strategy.
- The discount retailer said it can end its bankruptcy "with a profitable, cash-generating store fleet" after shuttering its less successful outlets.
- Tuesday Morning ran 87 stores in 40 states in late November and employed about 1,600 full-time and 2,700 part-time workers, according to a recent filing.
- The company was founded in 1974 and previously filed for bankruptcy in 2020.
