Item 8.01 Other Events
As previously disclosed, on May 27, 2020 (the "Petition Date"), Tuesday Morning
Corporation 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,
Dallas Division (the "Bankruptcy Court"). The Chapter 11 Cases were being
administered jointly under the caption "In re: Tuesday Morning Corporation, et.
al., Case No. 20-31476-HDH-11." As previously disclosed, on December 23, 2020,
the Bankruptcy Court entered an order confirming the Second Amended Plan of
Reorganization.
On September 29, 2021, the U.S. Bankruptcy Court for the Northern District of
Texas (Dallas Division) issued a final decree (the "Final Decree") closing the
Chapter 11 cases of Tuesday Morning Corporation (the "Company") and its
subsidiaries. This summary is qualified in its entirety by reference to the
full text of the Final Decree, which is attached hereto as Exhibit 99.1 and
incorporated herein by reference. While the Company emerged from bankruptcy
proceedings on December 31, 2020, the Chapter 11 cases remained opened pending
final resolution of all claims of general unsecured creditors. The Company was
able to resolve all of these claims for approximately $14 million less than the
amounts reserved and retained in an escrow account. Upon entry of the Final
Decree, the approximately $14 million remaining in the escrow account was
returned to the Company and the Chapter 11 cases are now final.
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Item 9.01. Financial Statements and Exhibits.
(d) Exhibits.
99.1 Final Decree
104 Cover Page Interactive Data File (formatted as inline XBRL and contained in
Exhibit 101)
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