Pier 1 Imports Is Permanently Closing All Stores
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An update on another popular store that is closing for good! 🙁
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.