Tuesday Morning on Luther Lane. Image via Google Maps
Dallas-based retailer Tuesday Morning will sell all of its Dallas area real estate as part of its bankruptcy.
The Dallas Morning News reports that the company sold its North Dallas headquarters and warehouses on Inwood Road for $60 million, allowing them to pay off vendors.
Tuesday Morning plans to lease back those buildings, the newspaper reports. The retailer also plans to raise about $40 million selling the rights to shares that have continued trading since it filed for bankruptcy protection in May.
The company declined to sell itself in bankruptcy and secured $100 million in financing from JPMorgan Chase, Wells Fargo and Bank of America.
