Off-price home décor retailer Tuesday Morning has been acquired by Hilco Merchant Resources for $32M in a court-approved bankruptcy sale—over the objection of a global management firm that argued it was prepared to finance Tuesday Morning's continued operations.
Judge Edward Morris of the Fort Worth division of the US Bankruptcy Court for the Northern Division of Texas overruled an objection from Invictus Global Management, which said in a filing it had committed $51.5M to support Dallas-based Tuesday Morning during its bankruptcy, RetailDive reported.
Tuesday Morning filed for Chapter 11 in February, the second time in three years the retail chain had filed for protection.
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
