Home goods retailer Tuesday Morning is the latest national outlet to seek bankruptcy protection, company officials said.
Tuesday Morning's closing is a result of the "immense strain of the COVID-19 pandemic," the Dallas-based retail chain said in a statement.
At least seven Tuesday Morning stores in New Jersey will close as a result of the bankruptcy. The discount home retailer has 11 stores in the Garden State,
Tuesday Morning Corp., founded in 1974, said it expects to close about 230 of its 687 stores nationwide.
New Jersey stores that will remain closed are in East Hanover, Middletown, Paramus, Ramsey. Toms River, South Plainfield and Watchung.
"The prolonged and unexpected closures of our stores in response to COVID-19 has had severe consequences on our business," Steve Becker, chief executive officer, said in a statement.
Tuesday Morning stores spared from permanent closure in the initial bankruptcy filing are in Haddon Township, Matawan, Midland Park, Red Bank and Skillman.
Tuesday Morning still needs bankruptcy-court approval to begin closing sales, and stores could be added or removed from its list of closures. The off-price retailer sells name-brand home textiles, home furnishings, housewares, gourmet food, toys and seasonal décor.
Last week, Ohio-based L.Brands announced the closing of many of its Victoria's Secret and Bath & Body Works stores including in the Garden State. There are 42 Victoria's Secret stores and 10 Bath & Body stores in New Jersey.
Tuesday Morning stores are expected to close over the summer. The endangered ones were chosen as part of a "thorough and comprehensive store-by-store analysis," the company said in its court filing.
Prior to the coronavirus pandemic, the company was "gaining momentum," Becker said. "However, the complete halt of store operations for two months put the company in a financial position that can be effectively addressed only through a reorganization in Chapter 11.”
Pier 1 Imports, already struggling before the COVID-19 pandemic, on May 23 announced it is closing its remaining stores. Department store giant J.C. Penney and luxury retailer Neiman Marcus recently filed for bankruptcy. J.C. Penney expects to close nearly one-third of its stores, or 242 stores nationwide. Nordstrom is closing 16 stores nationwide, including its NJ store at Freehold Raceway Mall.
J.Crew and Macy's also announced permanent store closings due to the impact of coronavirus on sales.
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