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WSJ: Tuesday Morning To File For Chapter 11 Protection

As per a report published in The Wall Street Journal, Tuesday Morning Corporation (TUES) is planning for a Chapter 11 bankruptcy filing by weekend. In March, the company stated that the COVID-19 pandemic could materially impact its operations, business plans, liquidity, financial condition and results of operations.

Due to the COVID-19 outbreak, Tuesday Morning closed all of its 687 stores across the country in March. Also, the company drew down $55 million from its secured revolving credit facility.

Based in Dallas, Texas, Tuesday Morning currently has 687 stores in 39 states.

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