A national retailer is closing 132 stores, but keeping its Bellingham store for now
Another national retail chain has filed for bankruptcy, but its Bellingham store is not on the initial closure list.
Tuesday Morning, which sells a variety of home decor products and furniture, filed for Chapter 11 bankruptcy reorganization on Wednesday, May 27. The company plans to close 230 of its 687 stores.
According to a list published by Business Insider, 132 stores were slated for the first phase of closure, which begins on Monday, June 1. That list included six Washington state stores in Bellevue, Federal Way, Kirkland, Lynnwood, Tacoma and Tukwila.
The Bellingham store at Sunset Square was not on the first phase closure list.
The bankruptcy of Tuesday Morning comes at a time when several national retailers have filed for bankruptcy in the past few weeks, including Pier 1 Imports, JC Penney, J. Crew, True Religion and Nieman Marcus. JC Penney, which has a store at Bellis Fair, has not yet announced which of its 240 stores will close. With those closures, JC Penney will have around 600 stores remaining.
In a news release, Tuesday Morning CEO Steve Becker said the unexpected closures of stores in response to COVID-19 had severe consequences on the business.
“Prior to the pandemic, we were gaining momentum in our merchant organization, growing our vendor base and improving brands, assortment and value for our customers, while investing in our technology and corporate leadership team. 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,” Becker said.
