A TOP home goods retailer is closing yet another location after planning to shutter 265 already in 2023.
As Tuesday Morning prepares to say goodbye to shoppers in McKinney, Texas, customers can take advantage of major savings, with closing deals of up to 90 percent off, according to the store’s Facebook.
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The Texas store will shut its doors for good at 3pm on Thursday as it joins the list of other Tuesday Morning locations slated to close while the business grapples with bankruptcy.
Shoppers who frequented the home goods store have been mourning the loss of stores across the country.
“We sure will miss your stores,” one fan wrote on Facebook. “We had so much fun looking for goodies. Wishing the best to all the employees… They were all amazing.”
Another echoed this sentiment, feeling nostalgic for the days in which they anxiously awaited finding Tuesday Morning’s deals.
“I shopped at your very first store and have decorated all of my homes with items from your stores over the decades,” the shopper said on Reddit.
“I used to take off from work the first day of your seasonal openings to get some really awesome items before they were gone. Many, including me, would be at the store waiting in line before it opened that morning. This is so sad for me, one of your biggest fans over the years, to witness the end.”
The one silver lining for shoppers is the liquidation sales as the store races to get rid of all remaining inventory.
The store said the sales, from between 80 to 90 percent off, apply to all items.
The company previously said it would be closing all 200 of its remaining locations this summer.
TUESDAY MORNING’S DOWNFALL
Despite being a top home goods retailer across the country, Tuesday Morning floundered in recent years.
The store saw success since its first opening in 1974, but saw in “exceedingly burdensome debt” in February, according to CNN.
The retailer attributed much of its issues to temporary closures during the coronavirus pandemic, which created an “insurmountable financial hurdle.”
At that point, the chain still operated 700 units, but the pandemic saw many of them become early victims of a phenomenon being dubbed the “retail apocalypse.”
Because Tuesday Morning hadn’t established a strong online presence, the rise in online shopping saw fewer and fewer customers frequenting the store in person.
At the time of its bankruptcy filing, Tuesday Morning’s CEO and director, Andrew Berger, said: “We look forward to taking steps that enable us to emerge as a stronger retailer that draws on a legacy of offering a unique off-price value proposition to our loyal customer base.”
“We appreciate all the support of our employees, customers, creditors and other partners as we seek to sustain commercial operations with minimal disruptions.”
OTHER BANKRUPTCIES
Tuesday Morning joins a longer list of companies that filed for bankruptcy already this year.
A mix of factors has created a volatile environment for retailers.
While the pandemic saw an increase in online shopping, brick and mortars suffered from reduced foot traffic and lower sales in the years since.
Additionally, skyrocketing inflation rates have seen consumers reel in their spending, especially on discretionary purchases.
Party City announced it would be closing 10 stores and auctioning off 12 stores after filing for Chapter 11 bankruptcy protection in January.
Bed Bath & Beyond is also scheduled to close hundreds of its stores months from filing for bankruptcy.
While the other home goods retailer found a buyer for its online presence in Overstock, the store’s locations are still slated to shutter.
Here’s the full list of businesses that filed for bankruptcy during 2023.
Restaurants have been hard hit by the changing retail environment as well – Applebee’s is closing a major location due to low sales.
