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Chapter 11 bankruptcy
A Tuesday Morning store. [Photo: Business Wire]
Pier 1 Imports Owner Invests in Local Retailer Tuesday Morning in $32M Deal
by Dallas Innovates | Staff Report | Sep 12, 2022
California-based Retail Ecommerce Ventures—which owns Pier 1, Stein Mart, Linens ‘n Things, and RadioShack, among other companies—is making a strategic investment in Tuesday Morning and its 490 stores in 40 states through a $32 million convertible debt financing deal.
“We believe this milestone transaction will strengthen our financial position and provide sufficient liquidity to execute on our strategic plan, allowing us to maintain strong relationships with our valued partners and elevate offerings for our customers,” says Fred Hand, Tuesday Morning’s CEO.
