These locations will shutter soon

Retailer to shutter 125 stores over three years

[ad_1]

rssfeeds.usatoday.com

Pier 1 Imports is closing up to 450 locations, which includes all of its stores in Canada, the retailer said Monday as it filed for Chapter 11 bankruptcy protection.

More than a month after the Fort Worth, Texas-based home goods retailer said it would reduce its store footprint “to better align its business with the current operating environment,” Pier 1 announced it filed for bankruptcy.

In a news release, Pier 1 said it has “closed or initiated going-out-business sales at over 400 locations,” and the Canada stores are included in the previously announced 450 figure.

A list with 331 U.S. store closings was posted on A&G Realty Partners’ website. According to Pier 1, the company is assisting with store closures and lease modifications.

The bankruptcy filing isn’t unexpected.

In April 2019, after Pier 1 announced it could close as many as 145 stores, about 15% of its nearly 1,000 locations, S&P Global Ratings warned that the “potential for a bankruptcy filing or debt restructuring is continuing to increase” for Pier 1 as its retail performance continued “to deteriorate significantly.”

USA TODAY reported in December that Pier 1 was one of several struggling retailers that faced the fight of their lives in 2020. 

Pier 1 Imports bankruptcy:Chain files for Chapter 11 as it continues closure of up to 450 stores

Sears and Kmart store closings continue:Is your location closing in early 2020?

Pier 1 store closings list by state

Some of the following stores may have already closed, according to Pier 1’s news release Monday. Contact your closest location before heading to the store, but note closing locations have been deleted from the store website in most instances. For questions about a particular location, Pier 1 said consumers can call Pier 1 Customer Service at 800-245-4595.



[ad_2]

Source link

Leave a comment

Your email address will not be published. Required fields are marked *