RETAIL STORE AT TIFFANY SPRINGS TO CLOSE
Platte County shoppers will soon lose a local retail option.
The Tuesday Morning store in the Tiffany Springs Market Center will be closing soon.
Tuesday Morning stores carry everything from home décor, furniture, bedding and more, “for 20–60% off department store prices,” according to the company’s website.
Address for the Tiffany Springs store is 8986 NW Skyview Ave., Kansas City in Platte County. On Tuesday morning, the store had “store closing” and “storewide sale” signs hanging in its windows.
Last week Tuesday Morning Corp. announced that it has filed for Chapter 11 bankruptcy protection in Fort Worth, Tex. A Chapter 11 filing allows a business to restructure its creditor obligations. Under a Chapter 11 filing, the debtor may continue to operate its business, and may, with court approval, borrow new money.
Part of the restructuring will include closing stores in low-traffic regions as the company “pursues the optimization of its footprint and a focus on core and heritage markets,” the company says.
Tuesday Morning operates 487 stores in 40 states. There currently are seven Kansas City-area locations.
In addition to the Tiffany Springs location, the store at 1130 W. 136th St. in Kansas City’s Martin City neighborhood will also be closing.
The Dallas based retailer says it is seeking the financial and operational reorganizational as a means to shore up outstanding liabilities, obtain capital and evolve into a “nimbler retailer that serves heritage markets in a profitable manner.”
The company says it is looking to reduce costs and create efficiencies across distribution channels through focusing on its high-performance stores. That streamlining is expected to include a pivot to what the company refers to as a third-party logistics model and transition to a more cost-effective inventory acquisition strategy.