FARGO -- Off-price retailer Tuesday Morning is going out of business and closing all of its remaining stores, including its Fargo outlet at 3223 13th Ave. S., the company’s only North Dakota location.
The company announced the start of its going-out-of-business sale on its website and through social media.
“ Everything must go! All stores are closing ,” the company’s website says in bold print.
Gift cards and merchandise return gift cards will be accepted until May 13, the company said.
“Starting today, we have begun the process of closing all our stores. Our Going Out of Business Sale is in stores now, with savings up to 30% off. Thank you for 49 years of loyalty and support,” an April 29 Facebook post said.
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There are now about 200 stores in 25 states, far less than the more than 700 stores the chain boasted at its peak in 2018.
Tuesday Morning’s website indicates the company’s remaining Minnesota stores are in Roseville (a St Paul suburb), Excelsior (southwest of Minneapolis) and St. Cloud.
Tuesday Morning specializes in close-out sales of medium- to high-end name brand gifts, luxury home textiles, home furnishings, housewares and seasonal décor.
The Dallas, Texas-based company opened its first store in 1974.
When Tuesday Morning filed for Chapter 11 bankruptcy in mid-February (its second such filing in about three years), it announced it was going to close 264 of its remaining 487 stores.
At the time, Tuesday Morning had gotten a commitment from Invictus Global Management for $51.5 million of debtor-in-possession financing to support the firm’s operations during the bankruptcy and reorganization.
The retailer said it was closing unprofitable and underperforming stores with the aim of coming out of bankruptcy a profitable entity.
An attempt was made to sell the Tuesday Morning out of bankruptcy, but the firm in the end was unable to come up with enough financing to continue operations.
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In late April, Tuesday Morning was auctioned off and sold to winner Hilco Merchant Resources, a liquidation company, for just over $32 million.
It is the second big retailer to begin liquidating its operations in the last couple weeks.
Bed Bath & Beyond has started winding down the operations of its stores with sales at its namesake stores and buybuy BABY shops, which includes the stores in Fargo’s West Acres area.
The Fargo store at 4340 13th Ave. S. is among 360 Bed Bath & Beyond and 120 buybuy BABY stores that remain after earlier closings.
The sales are part of the Chapter 11 filing announced Sunday, April 23, by New Jersey-based Bed Bath & Beyond. The corporation is still trying to find a buyer for all or parts of its operations.
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