Discount retailer Tuesday Morning plans to close more than 250 stores across the country this year.
In a filing with the Securities and Exchange Commission, the home goods company said it had filed for Chapter 11 bankruptcy.
Tuesday Morning said the bankruptcy filing will allow it to "transform into a nimbler retailer."
“After considering how best to address Tuesday Morning’s exceedingly burdensome debt, we have determined that the best path to reorganizing and transforming the Company begins with a Chapter 11 filing, said Andrew Berger, Tuesday Morning CEO. "Fortunately, we have the support of a committed capital provider in Invictus and a clear vision for transforming into a focused retailer that serves its core, heritage markets in a profitable manner."
The company said it will close stores in "low-traffic regions" that are "unprofitable" and "underperforming."
In all, stores in 38 states will be affected.
More than 30 stores in California will close, the most of any other state. Twenty-four stores will close in both Texas and Florida.
Nearly a dozen stores in Arizona are also impacted:
15449 N Hayden Rd
Sonora Village
Scottsdale, AZ 85260
10273 W McDowell Road
Gateway Village
Avondale, AZ 85392
1840 East Warner Road
McClintock Fountains Shopping Center
Tempe, AZ 85284
20165 N 67th Avenue
Arrowhead Plaza
Glendale, AZ 85308
245 East Bell Road
Bell Towne Plaza
Phoenix, AZ 85022
2815 South Alma School Road
Las Tiendas Village
Chandler, AZ 85286
4643 E Cactus Road
Village Square II
Phoenix, AZ 85032
6228 E Broadway Blvd
Wilmot Plaza
Tucson, AZ 85711
6884 East Sunrise Drive
Ventana Village
Tucson, AZ 85750
6952 East Hampton Avenue
Mesa Pavilions North
Mesa, AZ 85206
10096 W Happy Valley Rd
Lake Pleasant Towne Center
Peoria, AZ 85383
The retailer said everything in the stores will be on sale.
Click here to see which locations will be closing and offering the sale prices.
