Discount store enthusiasts in Mississippi and throughout the country may be fans of the popular store chain called Tuesday Morning. Bargain hunters who visit the stores find unique selections at every establishment, although the number of stores available to customers will soon be drastically lowered. The company has announced that it is filing for bankruptcy and closing 487 stores this year.
It is the second time in three years that Tuesday Morning has filed for bankruptcy. A company representative said that its debts have become a significant burden and filing for debt relief may help the business stay afloat. As part of its bankruptcy plan, Tuesday Morning will gain more than $50 million in financial assistance to keep the rest of its stores up and running.
The company is hoping that it emerges stronger from bankruptcy
Tuesday Morning executives believe that filing for bankruptcy will be a helpful financial tool. It will not only enable half of the stores to stay open but will help the company overall to lay the groundwork for a stronger financial future. Representatives have also said that Tuesday Morning has a loyal client base whom they believe will continue to generate revenue as the company strives to overcome its current financial obstacles.
Debt relief is available for Mississippi business owners
Tuesday Morning is closing stores in 38 states. Any business owner who is facing similar financial crises may want to consider similar solutions by exploring bankruptcy options. A Mississippi bankruptcy law attorney can explain what options are available and help a concerned business owner determine which program best fits his or her needs.