MORE than 200 stores offer incredible liquidation sales after a major retailer announced it will file for bankruptcy.
Texas shoppers should now be on the lookout for incredible savings after it was confirmed Tuesday morning that 24 stores had closed in the state alone.
Founded in 1974 in the state of Lone Star, the homewares retailer announced it filed for bankruptcy in February for the second time in three years.
Tuesday Morning decided to cut its losses and close half of its 487 stores in hopes of raising “significant and needed capital” and “ultimately transforming itself into a more nimble retailer,” the company announced in a statement.
With the closures comes a fantastic opportunity for shoppers to score crazy deals on the already discounted items.
To make things even more interesting, Tuesday Morning announced that gadgets and equipment would also be sold.
This means that anything and everything is available in this store, including store furnishings.
Signs pasted over hundreds of Tuesday morning stores urge shoppers to simply check with the manager about anything in the branch.
And according to consumer reports, all store merchandise is begging to be bought at a price 10 percent lower.
Carpets are also down 20 percent, while Christmas decorations are a whopping 75 percent cheaper.
Tuesday Morning is already selling products for 20 to 60 percent less than competing retailers, so you’re likely to save even more by shopping at the discount store now.
By scanning the tags for each product, you can see what savings are available.
A black price tag usually means the product is available at full price, pink means 20 percent off, orange 40 percent off, and yellow 60 percent off.
Affected areas in Texas include Austin, Houston, College Station, Fort Worth, Odessa, Plano, Wichita, Lewisville, Bedford, Hurst, Beaumont, Burleson, El Paso, Humble, Granbury and Victoria.
And countless other states across the country will also see closures.
Tuesday morning’s financial struggle reflects a broader trend being experienced by businesses across the country, financial experts say.
Burt Flickinger III, an executive at Strategic Resource Group, told the Los Angeles Daily News that Tuesday morning’s financial woes are a sign that the “retail ice age” has accelerated.
“Before Covid-19, around one in eight retail purchases was made online. Now it’s about one in five,” he said.
“Stores like Tuesday Morning are being taken down through no fault of their own.”
Gap, which also owns Old Navy, Banana Republic and Athleta, also said it would close about 50 stores this year.
The company has experienced low sales for several months and reported a net loss of $273 million for the most recent quarter ended Jan. 28.
Similarly, Party City has been planning to close over 20 stores since declaring bankruptcy in January.
The retailer is closing 10 stores and auctioning off 12 stores in the coming weeks.
And Bed Bath & Beyond announced on Jan. 30 that it will close an additional 87 stores through April this year.
Even CVS and Walgreens have felt the heat, closing multiple locations in March alone.
Plus, see which four stores filed for bankruptcy in 2023 as the retail apocalypse rages on.
https://www.the-sun.com/money/7741229/tuesday-morning-close-store-texas-sales/ Major retailer closing 24 stores in just one state alone – find out if your local outlet is shuttering for good