Texas Tragedy

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It was a bad Wednesday morning for Tuesday morning as the company filed for bankruptcy today. But in an odd coincidence, it is the fourth big national retailer based in Dallas Fort Worth to file Chapter 11 over the past few months. It joins Pier 1 Imports (now being liquidated completely), Neiman Marcus and JC Penney. The latter two say they plan to continue in business, albeit with fewer stores. That’s Tuesday’s plan as well but the track record for retailing businesses sticking around after going through bankruptcy is not exactly encouraging. Think Toys’R’Us, Radio Shack (also based in Fort Worth if you’re keeping score), Payless Shoes, Shopko and Bon Ton.

Read more — and more on the DFW connection — in my new Forbes.com post: https://www.forbes.com/sites/warrenshoulberg/2020/05/27/bad-times-for-dallas-based-retailers-tuesday-morning-joins-pier-1-neiman-marcus-and-jc-penney-in-bankruptcy/#1c21627a6ad2

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