Pier 1 Imports, which previously said it would close half of its fleet of stores, now plans to close all of its locations.
The retailer, based in Fort Worth, Texas, announced in a news release Tuesday that it was seeking bankruptcy court approval to begin an “orderly wind-down” when stores are able to reopen “following the government-mandated closures during the COVID-19 pandemic.”
In January, Pier 1 said it planned to close up to 450 stores, or nearly half of its locations. It then filed for Chapter 11 bankruptcy protection in February.
The media spin and coronavirus pandemic and shutdown was the nail in the coffin for this retail chain of over 900 stores in America.
Robert Riesbeck, Pier 1’s CEO and chief financial officer, said the company had been working to find a buyer to continue operating before the coronavirus.
