The discount home goods retailer Tuesday Morning Corp., which has ten stores in Maryland, plans to close some of them after filing for Chapter 11 bankruptcy protection earlier this month.
Dallas-based Tuesday Morning will close 263 stores nationwide located in “low-traffic regions,” the company said in a statement. In Maryland, eight of the ten Tuesday Morning stores are closing soon:
- 1171 Maryland Ave., South End Shopping Center, Hagerstown
- 121 Hillsmere Drive, Bay Ridge Plaza, Annapolis
- 13822 Georgia Ave., Northgate Plaza, Silver Spring
- 1447 Rock Spring Road, Rock Spring Shopping Center, Bel Air
- 15500 Annapolis Road, Free State Shopping Center, Bowie
- 1616 East Jefferson St., Congressional Plaza, Rockville
- 9150 Baltimore National Pike St. John's Plaza, Ellicott City
- 139 Ritchie Hwy., Magothy Gateway, Severna Park
That leaves only two stores in the chain in business after the shutdowns: at 380 Thompson Creek Road in Stevensville and 210 Marlboro Avenue, Suite 47, in Easton.
In the Feb. 14 bankruptcy filing, Chief Executive Andrew Berger cited “exceedingly burdensome debt.” In a statement, Tuesday Morning said it had secured a $51.5 million debtor-in-possession commitment from Invictus Global Management to support operations during the bankruptcy proceedings.
“We have determined that the best path to reorganizing and transforming the company begins with a Chapter 11 filing,” Berger said in a statement. “Fortunately, we have the support of a committed capital provider in Invictus and a clear vision for transforming into a focused retailer that serves its core, heritage markets in a profitable manner.”
