The transaction includes $35 million in new funding and will result in a change of control with new board members.
which was on the verge of filing bankruptcy for the second time in two years,The transaction will result in a change of control with new board members, according to the company’s press release.
As part of the deal, Tuesday Morning will enter into a licensing agreement to sell Pier 1 Imports products in its stores., including Pier 1, and it operates the brands as online stores. Other retail names it owns include RadioShack, Stein Mart, Linens ‘n Things and Modell’s Sporting Goods. The company was founded in 2019.
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