The off-price home goods and décor chain, which last month entered Chapter 11 bankruptcy protection for the second time in three years, will soon be shedding more than half of its store base.
A&G Real Estate Partners announced that it has been retained to put 250 of Tuesday Morning’s leases up for auction. No date has yet been set for the bidding.
“Tuesday Morning is committed to optimising its store footprint and focuing on its core markets,” said A&G Senior Managing Director Todd Eyler. “The company’s new management team believes this targeted approach to closing unprofitable and underperforming stores, along with a variety of other measures being undertaken to improve operations, will allow it to emerge from Chapter 11 with a profitable store fleet that serves its most engaged and loyal customers.”
Eyler noted that more stores could be added to the list if acceptable new terms are not reached with their landlords.
