Tuesday Morning Corp. (TUES) News
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Latest TUES News From Around the Web
Below are the latest news stories about Tuesday Morning Corp that investors may wish to consider to help them evaluate TUES as an investment opportunity.
Hedge Funds Never Been Less Bullish On Tuesday Morning Corporation (TUES)We at Insider Monkey have gone over 821 13F filings that hedge funds and prominent investors are required to file by the SEC The 13F filings show the funds' and investors' portfolio positions as of March 31st, near the height of the coronavirus market crash. In this article, we look at what those funds think […] |
Tuesday Morning secures $25M of additional debtor-in-possession financingTuesday Morning ([[TUES]] +16.8%) secures additional $25M debtor-in-possession financing, bringing total commitment to $125M to support the continuity of operations during Chapter 11 proceedings. The company expects to emerge from Chapter 11 by early fall 2020.... |
Coronavirus update: Global case tally climbs above 6.6 million and California reports a rise in infections amid protests and reopeningThe number of confirmed cases of the coronavirus that causes COVID-19 rose past 6.6 million on Thursday, and California reported a rise in infections after weeks of slowing, raising concerns that the protests at the death of George Floyd, and the reopening of certain counties, are helping spread the illness. |
Tuesday Morning secures $25 million DIP loan from B. Riley unit as part of Chapter 11 proceedingsTuesday Morning Corp. said Thursday it has obtained a commitment from a B. Riley Financial unit for $25 million of debtor-in-possession funding to support operations during Chapter 11 bankruptcy. The Dallas-based home furnishings retailer said the funding is part of its $100 million DIP agreement with existing lenders. The company is seeking to restructure under Chapter 11 after COVID-19-related store closures slammed its business. "This additional capital is an important milestone as it provides significant liquidity for us to continue operations throughout the reorganization process," Chief Executive Steve Becker said in a statement. |
Tuesday Morning Corporation Secures $25 Million of Additional Financing to Support Financial and Operational ReorganizationWith this commitment, the Company has secured commitments for a total of $125 million to support the continuity of operations during Chapter 11 proceedings. As previously announced, due to the immense strain the COVID-19 pandemic and related store closures put on the Company, Tuesday Morning is pursuing a financial and operational reorganization designed to allow the Company to reduce its outstanding liabilities and strengthen its overall financial position. On May 27, 2020, Tuesday Morning filed voluntary petitions for protection under Chapter 11 of the Bankruptcy Code in the United States Bankruptcy Court for the Northern District of Texas – Dallas Division to pursue this reorganization. |
What Chapter 11 Bankruptcy Filings Mean For InvestorsTuesday Morning Corporation (NASDAQ: TUES) is taking the Chapter 11 route, in a retail sector beset by online competition and caution among consumers due to economic uncertainty.A slew of publicly listed companies have filed for Chapter 11 of late, including: * Hertz Global Holdings Inc (NYSE: HTZ) * J C Penney Company Inc (OTC: JCPNQ) * LATAM Airlines Group SA (NYSE: LTM) * Intelsat SA (OTC: INTEQ) * Akorn, Inc. (NASDAQ: AKRX) * Stage Stores Inc (OTC: SSINQ) * Windstream Holdings Inc (OTC: WINMQ)What Chapter 11 Means Chapter 11, or reorganization bankruptcy, is relief sought by a corporation or partnership wherein a plan of reorganization is proposed by the company to allow it to pay creditors over time in a bid to keep its business alive.It takes its name after U.S. bankrupt... |
Parents flocked to Pottery Barn Kids and Teen during the lockdowns, driving Williams-Sonoma resultsWilliams-Sonoma credited its e-commerce capabilities and its Pottery Barn Kids and Teen business for better-than-expected results. |
Off-price retailer Tuesday Morning files for bankruptcy, plans to close 230 storesDallas-based Tuesday Morning Corp. filed for bankruptcy on Wednesday saying the pandemic’s “forced prolonged closure” of its almost 700 stores put it into… |
Coronavirus update: Global death toll climbs above 353,000; U.S. deaths surpass 100,000The number of deaths from the coronavirus that causes COVID-19 rose above 353,000 on Wednesday, as the World Health Organization said the Americas are at the center of the pandemic following surges in infections in Brazil, Peru, Chile and others in the past few days. |
Tuesday Morning Files Chapter 11 and Will Close a Third of StoresHome-furnishings retailer Tuesday Morning is seeking Chapter 11 protection from creditors due to the pandemic. |