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Discount Retailer Tuesday Morning Nears Another Bankruptcy

Jan. 19, 2023, 9:46 PM

Tuesday Morning Corp. is preparing for a possible bankruptcy filing within weeks as its losses and liquidity strains deepen, according to people with knowledge of the situation.

The specialty discount retailer recently added BDO USA as a restructuring adviser, said the people, who asked not to be identified because the matter is private. The company has also been working with Piper Sandler Cos. and Haynes & Boone to explore its options.

A Tuesday Morning retail store in Bailey’s Crossroads, Virginia.
Photographer: Andrew Harrer/Bloomberg

A bankruptcy could still be averted if the company can organize rescue financing or find a bidder, said the people.

Representatives for Tuesday Morning wouldn’t comment. Haynes ...