Tuesday Morning announced that it is permanently closing 24 of its household merchandise discount stores in Florida, including three stores in Lee and Collier counties after the Dallas-based company filed for Chapter 11 bankruptcy on Valentine’s Day.
On March 31, Tuesday Morning is planning to shutter its regional stores in Cypress Trace, 13300 S. Cleveland Ave., south Fort Myers; in McGregor Pointe shopping center, 15271 McGregor Blvd., south Fort Myers; and in Granada Shoppes, 1000 Immokalee Road, North Naples. Inventory is now on sale at these locations.
In a statement released this month, Tuesday Morning reports that “it is pursuing a financial and operational reorganization to enable the company to reduce its outstanding liabilities, obtain significant and necessary capital, and ultimately transform into a nimbler retailer that serves heritage markets in a profitable manner.” The Feb. 14 filing was the second time in three years the company declared bankruptcy to reorganize. The company first filed in May 2020 after the temporary closing of stores nationwide during the COVID-19 pandemic, but emerged from bankruptcy protection in December 2020 with new leadership.
During its new restructuring process, Tuesday Morning plans to focus on optimizing its store footprint and focusing on its core and heritage markets. “The company intends to close stores in low-traffic regions while allocating the proper resources to remaining stores in high-traffic regions,” the retailer reports in its recent statement. “The company believes this targeted approach to winding down unprofitable and underperforming stores will position Tuesday Morning to emerge from bankruptcy with a profitable, cash-generating store fleet that serves its most engaged and loyal customers.”
Before its anticipated closings, Tuesday Morning operated 487 stores in 40 states. It is expected to close about half of those stores. Other Florida stores closing are in Bradenton, Clearwater, Deland, Destin, Gainesville, Lady Lake, Melbourne, Merritt Island, Palm Beach Gardens, Pompano Beach, Ponte Vedra Beach, Sarasota, Seminole, Spring Hill, St. Petersburg, Sun City Center, Tampa, Titusville, Venice and Winter Park.
Before its first bankruptcy filing in 2020, Tuesday Morning had 687 stores. The chain also formerly operated area locations years ago at Coconut Point in Estero, The Pavilion shopping center in North Naples and Gulf Gate Plaza in East Naples.
