One of the anchors of Westpark Walk shopping area in the center of Peachtree City is going out of business, the victim of the bankruptcy of its parent.
Discount retailer Tuesday Morning at the intersection of Ga. Highways 54 and 74 is among all six Georgia stores facing liquidation and the closure of all remaining stores across the country. Along with the Peachtree City store, the remaining stores in Macon, Augusta, Brunswick, Woodstock and Alpharetta also will be having going-out-of-business sales in coming weeks.
The chain at its peak just five years ago operated over 700 stores with annual sales of over $1 billion. After two bankruptcies in three years, net sales dropped to $157 million in the most recent quarter.
Tuesday Morning joins another retailer, Bed Bath and Beyond — also with a store located in Kedron Shopping Center — facing dire economic outcomes.
A federal judge in Texas this past week authorized the sale of the remaining assets of the discounter to a liquidation company. More than 2,000 employees in the remaining 200 or so stores face the loss of their jobs as a result.