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.
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