Tuesday Morning temporarily closed all of its 687 stores; taps credit line

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Tuesday Morning (NASDAQ:TUES) temporarily closed all of its 687 stores across the country yesterday (5.00 PM).

Prior to yesterday’s closings, TUES had ~400 stores closed in compliance with state and local regulations.

In addition, the Company elected to draw down $55m from its secured revolving credit facility to provide additional liquidity and has ~$91M currently outstanding.

TUES says it might face a material impact due to COVID-19 pandemic.

Press Release

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