Discount retailer Tuesday Morning has filed for Chapter 11 bankruptcy protection, and plans on closing 230 of its 687 stores by the end of summer.
CEO Steve Becker said in a statement on Wednesday that before the coronavirus pandemic, the company was gaining momentum, but "the prolonged and unexpected closures of our stores in response to COVID-19 has had severe consequences on our business. The complete halt of store operations for two months put the company in a financial position that can be effectively addressed only through a reorganization in Chapter 11."
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