Tuesday Morning files for bankruptcy

(CNN) - Tuesday Morning has filed for Chapter 11 bankruptcy protection for the second time in three years.

The retailer secured $51 million in financing to keep its stores open.

The company has almost 500 stores, down from about 700 stores about three years ago. The company plans to close more stores.

Retail spending has been difficult to forecast lately.

It bounced back after a crash during the COVID-19 pandemic then slowed down enough this past holiday season to worry analysts the growth may be finished.

But on Wednesday, the U.S. Commerce Department reported sales jumped about 3% in January from December. That is the biggest increase in almost two years.