Nostalgic Retail Series #26 - TUESDAY MORNING
Founded in 1974 by Lloyd Ross with limited-time-only warehouse sales, Tuesday Morning specialized in discounted merchandise for the home.
In 1979, Tuesday Morning moved from an LTO retailer to a pop-up retail location, holding seasonal events and finally moved to full-time retail operations that same year.
After going public in 1984, the retailer grew to over 700 locations with sales of over $1 billion by 2018.
Significantly impacted by COVID and store closures, Tuesday morning filed Chapter 11 bankruptcy in May of 2020. Emerging from bankruptcy that same year (December, 2020) with a reduced store count and a new executive team, the retailer continued to face problematic operational and financial headwinds.
Acquired by Retail ECommerce Ventures in 2022 for $35 million, Tuesday Morning filed for its second Chapter 11 bankruptcy in February of 2023 and started closing stores. Two months later, in April, Tuesday Morning announced it would close all stores by July of 2023. The Chapter 11 filing was converted to a Chapter 7 liquidation in July, 2023 and all assets were liquidated.
As of today, the brand still has an online/e-commerce presence with the About Us section stating:
"As a proud American brand, Tuesday Morning is committed to expanding our footprint by opening new stores across various locations. Additionally, we have embraced the e-commerce era and are predominantly an online store, making it easier for our customers to shop for their favorite home goods from the comfort of their homes. Our goal is to blend the convenience of online shopping with the unique in-store experience that our customers love."
