Home furnishings chain Pier 1 Imports plans to close almost half of its nearly 940 stores
Pier 1 Imports Inc. plans to close nearly half of its stores and some distribution centers after the home-decor retailer reported widening losses in its latest quarter and warned about its ability to stay in business within the next year.
The Fort Worth, Texas-based home furnishings chain said Monday it will close up to 450 of its nearly 940 stores and that it has hired a liquidation company to help close the locations.
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Pier 1 Imports to close up to 450 stores, nearly half of its locationsPier 1 Imports plans to close up to 450 locations, nearly half its 942 stores, officials announced. It will also close certain distribution centers.
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Pier 1 to close nearly half its stores as losses widen and bankruptcy rumors persistPier 1 Imports said it intends to close up to 450 locations, or almost half its fleet of 942 stores, as it reported quarterly earnings amid bankruptcy rumors. - CNBC
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Pier 1 will close up to 450 storesPier 1, which operated 942 stores in the United States and Canada at the end of its latest quarter, says it will close up to 450 stores 'in order to better align its business with the current operating environment'
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Pier 1 plans to shut half its storesPier 1 posted a widening loss Monday and acknowledged that there’s substantial doubt about its ability to stay solvent. It has explored a Chapter 11 bankruptcy filing.
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