Tuesday Morning to draw $55 million from revolver for more liquidity

By Marisa Wong

Los Angeles, March 26 – Tuesday Morning Corp. said it has elected to draw down $55 million from its secured revolving credit facility to provide additional liquidity.

The company has about $91 million outstanding under the revolver, according to a press release.

The company said that given the complexity and rapidly evolving nature of the situation created by the Covid-19 pandemic, it will work to maintain its flexibility and may change its plans in response.

The pandemic is having a material impact on the company and its industry and may further materially impact its operations, business plans, liquidity, financial condition and results of operations, the release said.

Tuesday Morning is a discount, off-price retailer based in Dallas.

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