Franchise Group is providing Tuesday Morning with a $25 million debtor-in-possession loan as part of its bankruptcy proceedings.
As reported previously, Tuesday Morning and certain of its affiliates commenced bankruptcy cases under of the Bankruptcy Code in the United States Bankruptcy Court for the Northern District of Texas. Following a marketing process, Franchise Group was selected to serve as DIP lender and to provide a $25 million loan secured by Tuesday Morning’s real estate assets, including its corporate headquarters and warehouse/distribution complex located in Dallas. The DIP facility was approved by the court.
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.
Franchise Group is an operator of franchised and franchisable businesses.
