[UPDATE] Tuesday Morning Files For Bankruptcy, Shutting More Than Half its Stores

Tuesday evening brought sad news to fans of retailer Tuesday Morning.  The Dallas, Texas-based retailer, which earlier Tuesday filed for bankruptcy for the second time in less than three years, confirmed to customers Tuesday evening that they are closing nearly 300 stores including twelve in Georgia.  

At its peak in 2018, the retailer, which got its start in 1974, had more than 700 locations.  As of their recent filing, the company operates 490 stores nationwide and according to their bankruptcy filing, plans to close 263.  

In Georgia, the latest stores destined for closure are:

1001 Market Street Dalton Outlet Shops, Dalton

10010 Abercorn Street Picadilly Square, Savannah

13069 GA-9 Deerfield Place, Milton 

Scenic Hwy S Presidential Commons, Snellville

1901 Montreal Road North Lake Business Park, Tucker

191 Alps Road Alps Village, Athens

1999 Mall of Georgia Blvd, Buford

2421 Shallowford Road NE Shallowford Crossing, Marietta

4025 Watson Boulevard Galleria Square, Warner Robins

5920 Roswell Rd NE Parkside Shopping Center, Atlanta

608 Holcomb Bridge Road Roswell Towne Center, Roswell

136 Marketplace Parkway Dawson Marketplace, Dawsonville

ToNeTo Atlanta visited the Sandy Springs store earlier this month and noted "Storewide Sale" signage throughout the store with savings of 10% off everything but was told by management that corporate had not yet indicated to them that the store was closing.  The writing, however, definitely seemed to be on the wall.   

Tuesday Morning has in recent years closed several other Atlanta area stores including those in Brookhaven, Buckhead, and most recently, Marietta, among others.  The Buckhead and Marietta stores remain vacant while the Brookhaven store will soon reopen as a relocated home of Guitar Center.  

In a world enamored with online shopping, Tuesday Morning struggled to maintain relevance and was further hurt by recent inflationary issues and supply chain challenges.  Rival retailer HomeGoods, a division of TJ Maxx owner TJX Companies, has seemingly taken market share from Tuesday Morning and others as it continues to experience record sales and open new stores.  HomeGoods operates more than two dozen individual and combo stores (paired with TJ Maxx) in Georgia including three in Buckhead alone.  Additionally, like its TJX sibling brands Marshalls and TJ Maxx, HomeGoods also offers its wares via its website, a feature Tuesday Morning never implemented.  

Tuesday Morning is, of course, not alone in its struggles.  Fellow home goods retailer Pier 1 [Imports] also filed for bankruptcy in 2020 and eventually closed all of its stores nationwide.  Bed Bath & Beyond also recently announced it will close more than 200 stores as it works to stave off a complete liquidation.  

This past fall, Tuesday Morning was given a lifeline when a group of investors led by Retail Ecommerce Ventures, LLC (REV), invested $32 million in convertible debt financing to help keep the business stay afloat.  REV is no stranger to struggling brick and mortar retailers, it's practically their MO.  Founded by Alex Mehr and Tai Lopez in 2019, REV is a holding company that acquires distressed iconic brands and revives them as e-commerce businesses.  Other brands that REV controls or has an interest in include Pier 1, Dressbarn, Stein Mart, Linens 'N Things, Radio Shack and Modell's Sporting Goods, among others.  

The latest round of Tuesday Morning store closures will leave the company with just six stores in Georgia, only two of which are in metro Atlanta: Alpharetta and Woodstock.  The other remaining Georgia stores are in Augusta, Brunswick, Macon and Peachtree City.  

Are you surprised to see Tuesday Morning close so many stores?  Where do you shop for most of your home goods needs?  If your local Tuesday Morning store is closing, what would you like to see open in its place?

Please share your thoughts below.