YOUR BUSINESS AUTHORITY
Springfield, MO
YOUR BUSINESS AUTHORITY
Springfield, MO
Dallas, Texas-based Tuesday Morning Corp. (Nasdaq: TUES) announced store closure plans as part of a bankruptcy filing, but the Springfield location in Brentwood Center South has been spared for the time being.
The company's sole Springfield store, at 2916 S. Glenstone Ave., is not named in the first wave of closures in a bankruptcy filing today in the U.S. Bankruptcy Court for the Northern District of Texas-Dallas Division. There are 133 stores on the list, including Missouri locations in St. Louis and Chesterfield.
As part of the company’s voluntary Chapter 11 bankruptcy reorganization petition, Tuesday Morning plans to close roughly 230 of its 687 stores, according to a news release. In the court filing, the home goods retailer lists $88.4 million in debts and $92 million in assets.
“The prolonged and unexpected closures of our stores in response to COVID-19 has had severe consequences on our business," Tuesday Morning CEO Steve Becker said in the release. "The complete halt of store operations for two months put the company in a financial position that can be effectively addressed only through a reorganization in Chapter 11.”
Tuesday Morning in 2017 took on 13,000 square feet in Brentwood Center South, moving from 8,500 square feet in Plaza Shopping Center, according to Springfield Business Journal archives.
Taking shape on 3.5 acres just east of State Highway H/Glenstone Avenue in the area of Valley Water Mill Park are the Fulbright Heights Apartments – three 23,000-square-foot buildings with 24 units each for a total of 72 one- and two-bedroom apartments.
