Tuesday Morning heading out of bankruptcy

Dallas – Tuesday Morning is on track to exit bankruptcy soon.

The company recently announced that the U.S. Bankruptcy Court for the Northern District of Texas has confirmed its reorganization plan and said it hopes to be out of bankruptcy before Jan. 1.

Under the terms of the plan, the capital structure of the reorganized company is expected to consist of a $110 million asset-backed lending credit facility to provide working capital and $25 million in principal amount of a new senior subordinated note. Additionally, approximately $40 million in cash proceeds from an upcoming backstopped rights offering will be applied to pay creditors.

“We are pleased to have reached this critical milestone that sets the stage for our emergence as a stronger, more streamlined business,” said Steve Becker, CEO.

The off-price chain filed for Chapter 11 in late May with 687 stores and a plan to emerge from bankruptcy with approximately 450 units. As of last week, it was operating 490 stores in 40 states.

 

Decorating Your Home With Maple Kitchen Cabinets

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So-called cocktail gardens, aka bartender’s gardens, are dedicated to the idea of “recent is finest” — typically mentioned in reference to domestically grown food however equally valid for drinks. They are popping up everywhere, from suburban yards to city containers and small plots at fancy eating places. When selecting your crops don’t restrict yourself on one type of plant in your pot. Including flowers to an herb or vegetable container attracts pollinators so go forward an add selection in your selections. Some greens have probabilities to survive winter when planted in the fall, similar to spinach and garlic, just be sure you do a little analysis and …