---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-23-022784"
form_type: "8-K"
ticker: null
cik: "0000878726"
company_name: "TUESDAY MORNING CORP/DE"
filed_at: "2023-02-16T23:59:59+00:00"
generated_at: "2026-06-19T10:04:00.701871+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 1.0
calibrated_materiality_score: 1.0
confidence: "high"
source: SEC EDGAR
---

# Tuesday Morning files Chapter 11 bankruptcy; plans to close ~260 stores; DIP financing of up to $51.5M

## Summary
- Filed Chapter 11 on Feb 14, 2023; pre-petition debt of ~$68.7M across ABL, term loan, and convertible notes.
- Secured DIP facility of up to $51.5M from Invictus Special Situations Master I; initial $3.1M bridge loan drawn.
- Plans to close approximately 260 store locations; costs not yet estimable.
- Company expects existing common stock to be cancelled with no recovery for shareholders.
- Interim DIP order approved $15M initial term loans; matures Aug 15, 2023 or upon sale/reorganization.

## SEC filing metadata
- accession: 0001104659-23-022784
- form_type: 8-K
- cik: 0000878726
- company_name: TUESDAY MORNING CORP/DE
- filed_at: 2023-02-16T23:59:59+00:00
- event_type: other_material
- sentiment: negative
- materiality_score: 1.0
- calibrated_materiality_score: 1.0
- confidence: high
- sec_items: 1.01, 1.03, 2.03, 2.04, 2.05, 7.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/878726/000110465923022784/0001104659-23-022784-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/878726/000110465923022784/tm237022d2_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-23-022784
- JSON: https://secwatch.observer/filing/0001104659-23-022784.json
- Plain text: https://secwatch.observer/filing/0001104659-23-022784.txt

## Key facts
- Debt Financings
  TUESDAY MORNING CORP/DE reported a default on term loan of approximately $24.47 million with unspecified at unspecified maturing unspecified.
  - Instrument: term loan
  - Principal: approximately $24.47 million
  - Counterparty: unspecified
  - Rate: unspecified
  - Maturity: unspecified
  - Event: default
  source text: under the Pre-Petition ABL Credit Agreement (which amounts do not include certain disputed amounts consisting of prepayment premiums and consent fees) (ii) approximately $24.47 million under the Pre-Petition Term Loan Credit Agreement, and (iii) approximately $21.18 million under the Convertible Notes. Each of the Pre-Petition ABL Credit Agreement, the
  evidence_url: https://www.sec.gov/Archives/edgar/data/878726/000110465923022784/0001104659-23-022784-index.htm
- Debt Financings
  TUESDAY MORNING CORP/DE reported a default on convertible notes of approximately $21.18 million with TASCR Ventures CA, LLC, as collateral agent at unspecified maturing unspecified.
  - Instrument: convertible notes
  - Principal: approximately $21.18 million
  - Counterparty: TASCR Ventures CA, LLC, as collateral agent
  - Rate: unspecified
  - Maturity: unspecified
  - Event: default
  source text: disputed amounts consisting of prepayment premiums and consent fees) (ii) approximately $24.47 million under the Pre-Petition Term Loan Credit Agreement, and (iii) approximately $21.18 million under the Convertible Notes. Each of the Pre-Petition ABL Credit Agreement, the Pre-Petition Term Loan Credit Agreement and the Convertible Notes provides that as a result of the
  evidence_url: https://www.sec.gov/Archives/edgar/data/878726/000110465923022784/0001104659-23-022784-index.htm
- Debt Financings
  TUESDAY MORNING CORP/DE reported a default on credit facility of approximately $23.01 million (including approximately $14.59 million in letters of credit) with Wells Fargo Bank, National Association, as administrative agent and collateral agent, and 1903P Loan Agent, LLC, as documentation agent for the FILO B loans at unspecified maturing unspecified.
  - Instrument: credit facility
  - Principal: approximately $23.01 million (including approximately $14.59 million in letters of credit)
  - Counterparty: Wells Fargo Bank, National Association, as administrative agent and collateral agent, and 1903P Loan Agent, LLC, as documentation agent for the FILO B loans
  - Rate: unspecified
  - Maturity: unspecified
  - Event: default
  source text: therein, and TASCR Ventures CA, LLC, as collateral agent (the “Convertible Notes”). As of the Petition Date, the Company had outstanding obligations of (i) approximately $23.01 million (including approximately $14.59 million in letters of credit) under the Pre-Petition ABL Credit Agreement (which amounts do not include certain disputed amounts consisting of
  evidence_url: https://www.sec.gov/Archives/edgar/data/878726/000110465923022784/0001104659-23-022784-index.htm
- Distress & Bankruptcy
  TUESDAY MORNING CORP/DE entered chapter 11 in United States Bankruptcy Court for the Northern District of Texas, Fort Worth Division (petition 2023-02-14).
  - Proceeding: chapter 11
  - Court: United States Bankruptcy Court for the Northern District of Texas, Fort Worth Division
  - Petition: 2023-02-14
  source text: On February 14, 2023 (the “Petition Date”), Tuesday Morning Corporation (the “Company”) and certain of its direct and indirect subsidiaries (collectively with the Company, the “Debtors”) filed voluntary petitions (the “Chapter 11 Cases”) under Chapter 11 of the United States Bankruptcy Code (the “Bankruptcy Code”) in the United States Bankruptcy Court for the Northern District of Texas, Fort Worth Division (the “Bankruptcy Court”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/878726/000110465923022784/0001104659-23-022784-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.