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Edelman is handling the Chapter 11 filing of Tuesday Morning, Dallas-based off-price retailer, that is restructuring due to the "insurmountable financial hurdle" triggered by the forced prolonged closure of its 687 stores in 37 states due to COVID-19.
Tuesday Morning CEO Steve Becker said 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."
Prior to the COVID-19 outbreak, Tuesday Morning earned $1.3M on $548M revenues for the six-month period ended Dec. 31.
The company plans to use the bankruptcy filing to realign its store footprint, a move that will shutter 230 of its stores over the summer.
As the country reopens, Tuesday Morning has resumed operaton of more than 80 percent of its high-performing stores.
Becker is "encouraged by the very positive performance of the business as we reopen our doors and welcome back our dedicated customers."
Edelman's Allison McLarty and Ted McHugh work the Tuesday Morning account.
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