Discount store Tuesday Morning is ready to close all 5 of its stores in Virginia.
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Another store is ready to farewell Virginia. Yesterday Judge Edward L. Morris of the U.S. Bankruptcy Court for the Northern District of Texas approved the sale of the store referred to as Tuesday Morning to a liquidation corporate. As a outcome, over two thousand employees will lose their jobs, and all stores will likely be closed over the approaching weeks.
Let’s take a handy guide a rough have a look at what took place and the Tuesday Morning stores in Virginia final.
Tuesday Troubles
Tuesday Morning is a family products bargain retailer well-liked by customers searching for costs under division stores. At its height in 2018, the corporate operated over 700 locations and had sales of over $1 billion. Sadly the news hasn’t been as just right in the previous few years. Last November, the “company announced that same-store sales were down 10.4 p.c when put next with the similar fiscal quarter remaining 12 months, and web gross sales dropped to $157.1 million this quarter, down from $176.9 million a 12 months prior.” Then, in February, it filed for chapter for the second one time in 3 years. At the time of the submitting, it introduced it could close over part of its stores however nonetheless stay 200 stores open. However, with the most recent news, each Tuesday Morning retailer will close, and a going-out-of-business sale will begin quickly. This way the 5 stores in Virginia indexed under will likely be final.
List of Tuesday Morning stores in Virginia that can quickly close.
- Ridgewood Farm Village, 1923 Electric Road, Salem, VA 24153
- 2138 Wards Road, Lynchburg, VA 24502
- Great Bridge Shopping Center, 237 Battlefield Blvd S, Chesapeake, VA 23322
- Pantops Shopping Center, 540 Pantops Center, Charlottesville, VA 22911
- 660 Brandon Ave SW, Towers Shopping Center. Roanoke, VA 24015
It is the most recent blow to the retail trade nonetheless reeling from Bed Bath & Beyond’s chapter this week, leading to 5 Bed Bath & Beyond stores in Virginia final.
I will be able to proceed to replace readers with any new traits on this tale, so practice me to stay alongside of the most recent retail traits.
Your ideas
Do those retailer closures have an effect on you? Are you involved concerning the selection of stores final in Virginia and the lack of jobs? Will you consult with such a stores to discover a discount? Should the federal government be offering extra monetary toughen for suffering retail companies?
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