IE Business Daily Business news for the Inland Empire.
Tuesday Morning, the discount home goods retailer, is closing its 31 California stores, including four in the Inland Empire.
The chain, which filed Chapter 11 earlier this month, is closing 263 stores nationwide, according to the company’s website.
The Inland stores are in Riverside, Rancho Cucamonga, Redlands and Palm Desert.
The website announcement includes a banner reading “Everything On Sale,” followed by a list of all of the closings in 37 states. The first closures reportedly will begin this summer.
“After considering how best to address Tuesday Morning’s exceedingly burdensome debt, we have determined that the best path to reorganizing the company begins with a Chapter 11 filing,” said Andrew Berger, the retailer’s director and chief executive officer, in a statement. “We look forward to taking steps that enable us to emerge as a stronger retailer.”
The Dallas-based retailer has secured $51.5 million in financing to help its 223 remaining stores continue to operate during the bankruptcy, according to the statement.
