BRF Finance, an affiliate of B. Riley Financial, committed to provide Tuesday Morning with $25 million of debtor-in-possession financing as required by the company’s current $100 million DIP agreement with its existing lender group. With this commitment, Tuesday Morning has secured commitments for a total of $125 million to support the continuity of operations during Chapter 11 proceedings.

As previously reported, Tuesday Morning filed voluntary petitions for protection under Chapter 11 of the Bankruptcy Code in the United States Bankruptcy Court for the Northern District of Texas, Dallas Division. The company expects to emerge from Chapter 11 by early fall 2020.

“We look forward to partnering with B. Riley going forward as we work hard to reorganize the company so it is as strong as it can possibly be,” Steve Becker, CEO of Tuesday morning, said. “This additional capital is an important milestone as it provides significant liquidity for us to continue operations throughout the reorganization process. It also further validates our plan to emerge as a healthier business and as one of the leading home goods off-price retailers.”

The DIP financing with B. Riley Financial remains subject to a number of conditions, including bankruptcy court approval.

Haynes and Boone is serving as legal advisor, Miller Buckfire, a Stifel company, is serving as financial advisor, and AlixPartners is serving as restructuring advisor to Tuesday Morning.

Tuesday Morning is an off-price retailer specializing in products for the home, including upscale home textiles, home furnishings, housewares, gourmet food, toys and seasonal décor.