secwatch.observer — SEC 8-K summary
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Issuer:     TUESDAY MORNING CORP/DE (—)
CIK:        0000878726
Form:       8-K
Filed at:   2023-02-16T23:59:59+00:00
Accession:  0001104659-23-022784
Event type: other_material
Sentiment:  negative
Materiality: 1.00
Item codes: 1.01, 1.03, 2.03, 2.04, 2.05, 7.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/878726/000110465923022784/0001104659-23-022784-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/878726/000110465923022784/tm237022d2_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-23-022784

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