Full list of states closing beloved discount store that's the latest victim of 'retail ice age' as 263 shut
THE discount retailer Tuesday Monday has announced the closing of 263 stores across the country after it filed for bankruptcy.
About half of the remaining 400-plus outlets will close as experts warn of the "retail ice age."
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Tuesday Morning locations will shutter in the following states, according to its website:
Tuesday Morning filed for bankruptcy twice in three years and the company's CEO Andrew Berger has warned that the chain must restructure its “exceedingly burdensome debt."
"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," Berger explained.
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Tuesday Morning plans to close down “low-traffic regions while allocating the proper resources to remaining stores in high-traffic regions."
Burt Flickinger III, a managing director at Strategic Resource Group, told the Los Angeles Daily News that the company’s financial troubles are a sign that the "retail ice age" has accelerated.
Flickinger said: “Before Covid-19, about one in eight purchases in retail were done online. Now it’s about one out of every five.”
The expert added: “Stores like Tuesday Morning are getting crushed through no fault of their own.”
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He revealed that outlets had been hit by high inflation as shoppers face high prices and have less disposable income.
Tuesday Morning has a presence in 40 states, 38 of which will be affected by the closures.
MORE STORE CLOSURES
Other major retailers have shuttered their doors across the United States, including Aldi, Walmart, and Bed Bath & Beyond.
On March 10, Walmart's San Mateo Boulevard SE location in Albuquerque, New Mexico, and the Homewood location in Chicago, Illinois, will stop operations.
The U.S. Sun has shared a full list of Walmart locations that have closed down so far.
There are also Aldi locations that will close down in big cities like Chicago and Minneapolis.
Bed Bath & Beyond has shut down hundreds of store locations as the company fights to avoid bankruptcy in the US.
The U.S. Sun has revealed a full list of Aldi and Bed Bath & Beyond store closures as well.
