Liquidation operator Hilco Merchant Resources has won an auction for the assets of Tuesday Morning Corp.
After the auction held April 19-20, Hilco Merchant Resources entered into an asset purchase agreement for Tuesday Morning on April 24. A hearing on the sale was held April 27, and the court approved the Tuesday Morning sales on April 28.
Tuesday Morning filed for Chapter 11 bankruptcy protection on February 14.
The Hilco Merchant Resources segment of Hilco Global provides retail and consumer products inventory monetization services for retailers and wholesalers, according to the parent company. Principal among the services provided are retail inventory, fixtures and equipment sale events associated with strategic store closings and store re-merchandising initiatives. Hilco Global describes itself as is a privately held financial services company and authority on maximizing the value of assets for both healthy and distressed companies.
