The ongoing financial issues of the discount retailer Tuesday Morning have led to them selling everything - including fixtures and equipment.
Last month I wrote an article about the discount retailer known as Tuesday Morning closing two of its stores in New Mexico.
All items were on sale, but now there is a new development with the company literally selling everything in the store- including fixtures and equipment.
Let's take a look at the ongoing story.
Tuesday Morning
Tuesday Morning was founded in Texas in 1974.
Several years ago, it had 687 stores across the United States, but it has faced many financial issues since then. Last month the company filed for bankruptcy; it was the second bankruptcy filing for the company in three years.
At the time of the filing, it also announced it would close over half of its stores, including two in New Mexico. Once these stores are closed, there will be just 215 left in the United States.
In announcing the store closures, the company stated it would:
“Enable the company to reduce its outstanding liabilities, obtain the significant and necessary capital, and ultimately transform into a nimbler retailer that serves heritage markets in a profitable manner.”
Tuesday Morning stores closing in New Mexico:
- 3553 Zafarano Drive, Plaza de Santa Fe II, Santa Fe, NM 87507
- 10420 Coors Bypass NW, Cottonwood Corners, Albuquerque, NM 87114
The stores listed for closure above offered sales on all items, and savvy shoppers took advantage of this by snapping up bargains.
Everything is on sale- even the kitchen sink!
When the business says everything is for sale, they really mean it. The website has now been updated to state that even the store fixtures and equipment can be bought.
A banner is displayed on the Closing Down sales page advising customers to speak with the store manager about fixtures and equipment for sale.
It remains to be seen how much extra funds the business will gain from selling off fixtures and equipment and if this will save the remaining two stores in New Mexico.
Customers buying merchandise on sale at Tuesday Morning stores closing due to bankruptcy should be aware that returns are not allowed.
There have been reports that other retailers such as TJ Maxx and Ross Dress for Less are eyeing off stores abandoned by Tuesday Morning, so perhaps they will be interested in purchasing the discounted equipment.
I will continue to update readers with any new developments in this story.
For the latest list of all stores closing in New Mexico, please check out this article. To keep up to date with the latest retail developments but sure to follow me.
Your thoughts
Do these store closures affect you? Will you visit one of these stores to find a bargain? Are you concerned about the number of retail stores closing in the United States? Should the government offer more financial support for struggling retail businesses? Are you hopeful that new retailers will take over the locations of closing stores?
Please leave your thoughts in the comment section below and share this article on social media and with others so more people can join the discussion.