Tuesday Morning Corporation is a

Dallas, Texas Dallas () is the third largest city in Texas and the largest city in the Dallas–Fort Worth metroplex, the fourth-largest metropolitan area in the United States at 7.5 million people. It is the largest city in and seat of Dallas County ...

-headquartered household merchandise discount store, priced below department and specialty stores.

History

Tuesday Morning was established in 1974 by Lloyd Ross. Ross worked with manufacturers to buy their excess merchandise and host limited-time warehouse sales to offer these goods at a discount to the public. The company moved to a pop-up retail location in 1979 with seasonal events. The company went to full-time retail operations in 1979 and went public in 1984 with 57 stores. At its peak in 2018, the company operated over 700 locations and had sales of over $1 billion. Tuesday Morning focuses on discount home goods. In May 2020, after extended store closures due to the

COVID-19 pandemic The COVID-19 pandemic, also known as the coronavirus pandemic, is an ongoing global pandemic of coronavirus disease 2019 (COVID-19) caused by severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2). The novel virus was first identi ...

, the company filed for

Chapter 11 bankruptcy Chapter 11 of the United States Bankruptcy Code ( Title 11 of the United States Code) permits reorganization under the bankruptcy laws of the United States. Such reorganization, known as Chapter 11 bankruptcy, is available to every business, whe ...

reorganization and was delisted from the

American Stock Exchange NYSE American, formerly known as the American Stock Exchange (AMEX), and more recently as NYSE MKT, is an American stock exchange situated in New York City. AMEX was previously a mutual organization, owned by its members. Until 1953, it was know ...

. During the reorganization process the company closed close to 200 unprofitable store locations and a distribution center. In December 2020, the company emerged from bankruptcy with a rights offering, enabling the ability to pay all vendor claims in full and protect shareholder value. Upon emerging, the company established a new executive leadership team who has failed to live up to expectations and tanked the companies stock from $4+ per share down to .30 cents per share in just over one years time. On May 25, 2021 the company was re-listed on the

NASDAQ The Nasdaq Stock Market () (National Association of Securities Dealers Automated Quotations Stock Market) is an American stock exchange based in New York City. It is the most active stock trading venue in the US by volume, and ranked second ...

stock exchange under TUEM.

References

External links

*{{Official website, http://www.tuesdaymorning.com Madison Dearborn Partners companies Discount stores of the United States American companies established in 1974 Retail companies established in 1974 Companies based in Dallas Companies formerly listed on the Nasdaq Companies traded over-the-counter in the United States Companies that filed for Chapter 11 bankruptcy in 2020 1974 establishments in Texas

History

See also

References

External links