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Tuesday Morning Gets Green Light To Relist On Nasdaq After Emerging From Bankruptcy

Tuesday Morning Gets Green Light To Relist On Nasdaq After Emerging From Bankruptcy

May 24, 2021 at 03:08PM
by PYMNTS

Approximately six months after Tuesday Morning emerged from bankruptcy, the off-price home goods retailer said on Monday (May 24) that Nasdaq has given the green light for its common stock to be relisted on the Nasdaq Capital Market, according to an announcement.

“Our relisting on Nasdaq signifies the Company’s recent financial and operational achievements as we continue to build a stronger company,” Tuesday Morning Chief Executive Officer Fred Hand said in the announcement. “This step is a landmark moment in the next part of our journey as a leader in the off-price retail market.”

It is anticipated that the firm’s common stock will be relisted and begin trading Nasdaq Capital Market under the “TUEM” ticker symbol “on or about Tuesday, May 25, 2021,” according to the announcement.

The relisting announcement comes a few days after Tuesday Morning said on May 21 appointed Marc Katz as its interim chief financial officer “effective immediately,” according to an announcement.

Katz worked at Burlington Stores Inc. between 2008 and 2019 with chief financial officer/principal as his last role. He supervised information technology, finance, asset protection, supply chain and legal amid his time at Burlington.

News of Katz’s appointment came after the naming of Hand as the retailer’s chief executive officer and board member. He came on board to the firm on May 17.

Katz will head up the finance organization of the retailer and will be tasked with treasury, accounting, financial planning and tax as interim chief financial officer.

“At Burlington, [Katz] was an experienced and well-respected leader with a track record of creating value and financial opportunities. His expertise will be invaluable to our operations in addition to assisting us conduct our search for our permanent CFO,” Hand said in the announcement.

Tuesday morning is an off-price retailer focusing on “name-brand, high-quality products” for homes such as home furnishings, home textiles, high-end food, housewares, seasonal décor and toys at prices that are usually under those in “boutique, specialty and department stores, catalogs and on-line retailers,” according to the relisting announcement.