Tuesday Morning Corporation filed a motion in the US Bankruptcy Court for the sale of its certain assets on February 24, 2023. To qualify as a qualified bidder, interested parties should submit their bids by April 10, 2023, along with good-faith deposit in the amount of 10% of the bid price. The initial minimum overbid should be at least $0.50 million more than the initial purchase price.

The debtor has scheduled an auction on April 12, 2023. At the auction, the subsequent bids would be in increments of $0.50 million. The stalking horse bidder would be entitled to a break-up fee of 3% of purchase price and expense reimbursement of $0.25 million in case of termination of the asset purchase agreement.

The sale hearing is scheduled for April 19, 2023.