RTTNews | Jan 4, 2021 09:06AM EST

09:06 Monday, January 4, 2021 (RTTNews.com) - Off-price retailer Tuesday Morning Corp. said that it has successfully completed its financial and operational reorganization and emerged from Chapter 11.

The company noted that it is supported by a $110 million asset-backed lending facility provided by J.P. Morgan, Wells Fargo, and Bank of America. The company has further optimized its store footprint and is emerging with 490 of its best performing stores.

In late-May, Tuesday Morning had filed voluntary petitions for protection under Chapter 11 of the Bankruptcy Code in the U. S. Bankruptcy Court for the Northern District of Texas, Dallas Division. It had planned to emerge as a stronger company by early fall 2020.

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