Tuesday Morning Announces Bucks County Store Closing
According to cnbc.com, Tuesday Morning has filed for bankruptcy protection and plans on closing 132 of its stores, including the location in Trainer's Corner Shopping Center in Quakertown, PA.
On its website, Tuesday Morning describes itself as "one of the original off-price retailers specializing in name-brand, high-quality products for the home," (Some people may describe it as a smaller scale HomeGoods).
In a letter to its customers, Tuesday Morning CEO Steven R. Becker said that the financial strain caused by the COVID-19 pandemic was the primary reason for the bankruptcy filing.
Becker went on to say that the company plans to emerge from bankruptcy in early Fall 2020 and looks forward to serving its customers for "decades to come."
Based on a list posted on cnbc.com, the Quakertown location is one of 7 stores in Pennsylvania that will be closing. The list also includes 7 New Jersey locations. In a press release, Tuesday Morning said it expects to close the stores this summer.
Fortunately, Tuesday Morning's other Bucks County store, located on 2nd Street Pike in Southampton, was not on the closure list published by cnbc.com. Stores in Valley Forge and Skillman, NJ were also not on the list, although cnbc.com says that Tuesday Morning expects to announce 200+ additional stores in the future.
Tuesday Morning is just the latest national retailer that has blamed the pandemic for its financial problems. Earlier this month, we reported on J.C. Penney's plan on closing over 200 of its stores.
According to tuesdaymorning.com, the Quakertown, Southampton and Valley Forge locations have re-opened.