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WSJ: Tuesday Morning To File For Chapter 11 Protection

(RTTNews) – As per a report published in The Wall Street Journal, Tuesday Morning Corporation (TUES) is planning for a Chapter 11 bankruptcy filing by weekend. In March, the company stated that the COVID-19 pandemic could materially impact its operations, business plans, liquidity, financial condition and results of operations.

Due to the COVID-19 outbreak, Tuesday Morning closed all of its 687 stores across the country in March. Also, the company drew down $55 million from its secured revolving credit facility.

Based in Dallas, Texas, Tuesday Morning currently has 687 stores in 39 states.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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