Pier 1 Imports Will Permanently Close All Retail Stores Due to Pandemic

Pier 1 Imports is shutting its doors.

The company filed with bankruptcy court to begin “an orderly wind down” of their retail operations, they confirmed on Tuesday (May 19) amid the global health crisis.

“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,” CEO Robert Riesbeck said.

They intend to close stores and start liquidation sales once store locations can reopen amid pandemic state shutdowns, although it is still processing and filling orders on its website.

The retailer had already filed for Chapter 11 bankruptcy back in February, and announced that it would close 450 of its 942 stores.

Pier 1 Imports is hardly the only business being severely impacted by the pandemic. This retail giant just filed for bankruptcy…

Source: Read Full Article