Pier 1 Imports Is Permanently Closing All Stores | Save Up to 40%
An update on another popular store that is closing for good! 🙁
Update: Pier 1 stores are now up to 40% off online and in-store! Please note that all sales are final.
We shared in February that Pier 1 Imports, one of the biggest home goods retailers, declared bankruptcy. Today, Pier 1 has announced that they are asking the bankruptcy court to approve a “wind-down” as soon as stores are allowed to reopen.
Its 540 stores have been temporarily closed due to the coronavirus pandemic, but the current state of the retail market has left them unable to find a buyer and keep the business alive. Once stores are able to reopen, going out of business sales and other liquidation efforts are expected to start.
“This decision follows months of working to identify a buyer who would continue to operate our business going forward. Unfortunately, the challenging retail environment has been significantly compounded by the profound impact of COVID-19, hindering our ability to secure such a buyer and requiring us to wind down.” — Robert Riesbeck, CEO & CFO
Pier 1 expects to serve customers through early fall 2020. Additionally, you can still order furniture, decor, and more on Pier1.com.
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So sad 😔
WHATTTT?!
That is really so sad !!
So horrible. I feel like it is only the beginning of stores that will not be able to survive through this.
Sad to see them go because I remember going there with my mom as a kid. Really, though, haven’t shopped there in years because prices seemed to keep going up and more competitors kept opening with better deals. I’ll definitely check out their clearance sales, though.
I agree – Pier 1 was fun to browse in but I very rarely bought anything there and when I did it was small items like placemats or Christmas ornaments. It seemed like I could find similar items at much lower prices at places like Kirklands, Home Goods or Target. At the same time they didn’t seem high quality enough to be worth the higher price tag (and decorative items rarely take much abuse in my household), or unique/rare enough or a brand I would be especially proud to have in my home (I’ll be honest, I’m old enough to be brand driven and would snap up something Pottery Barn because it’s Pottery Barn) or something that supports a local artisan or a cause.
The current retail market may just be the final straw for a company that didn’t seem to have a niche and couldn’t compete with all the new online retailers (unlike clothing, a couch, or bed sheets, I don’t need to touch a painting, figurine or candle holder before I buy it).
It looks like retail is trying to sell a lot of junk! Since 2010 quality keeps going down, yet prices keep sky rocketing.
Not as many are buying online as they would have you believe.
If they want people to buy more, they will have to increase quality and reduce prices.
Our location closed in February and even the store fixtures were on sale. I managed to get a couple of amazingly heavy duty extension cords for $5 each. But it was a bittersweet bargain as the store I had enjoyed shopping in for years was nearly empty.
Mine did as well. I had to use a gift card I got for Christmas.
Aww no
And so it begins. The collateral damage from Corona. So sad.
They have been going downhill for a long time.
Yeah, no. This isn’t because of the virus. This is because they couldn’t adapt to current shopping trends and can’t compete with other retailers. This was always coming.
Most of the retailers that will close within the next few months have been struggling for a long time.
I read this months ago.
I’m surprised they lasted this long.
Is sad but we seriously can’t blame everything on the virus. Let’s be honest, a lot of retail have been struggling for years because nobody shops in person anymore. I know so many people who only shop online. That takes away so much business. I used to work at Target and the amount of people who do pick up or delivery was crazy. My 2 years working there were dramatically changed because of online shopping and so many of these businesses were already struggling and it was only a matter of time unfortunately!!!
I read online that you will only have 21 days once they reopen to use any gifts cards you have for Pier 1. After that, they have no value.
They had someone come in and do the liquidation of our local stores before the covid and it was not even worth going to. Those liquidation firms are frustrating.
Really surprised they survived this long. Their stuff was way overpriced.
I hate this. I was hoping they’d be able to make it. Even if I didn’t need to buy anything, I loved walking through our Pier 1 store. It was always clean, smelled good, and had beautiful displays. It was my happy place, especially if I was having a bad day, and I was able to score unusual, good quality items.
I agree Laura!!
Shoot – I’ve had place mats I wanted to exchange. Been waiting for them to re-open – I bet I won’t be able to now. I also have returns waiting for JCP to open. I may end up with things I don’t need/want. 🙁
I agree that their pricing was not consistent with the actual quality of the item. I used to love pier 1, but for years anytime I visited a store nothing stood out to me to purchase. It was as if I had to try and convince myself to like something enough to purchase, so I just stopped going:(. A lot of stores seem to have way too many brick and mortar locations. I’m sure we’ll see more bankruptcies but hopefully some stores will just close some locations and stay in business!
This town is already turning into a ghost town & pier 1 was a friendly, happy place whether you were there to buy or just looked around, I have shopped at several locations & loved them all I know I am among many that will be VERY SAD if they were to close, PLEASE DONT! BEAN