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Pier 1 Imports seeking to close retail operations

Pier 1 Imports
Posted at 12:08 PM, May 19, 2020
and last updated 2020-05-19 13:22:48-04

CORPUS CHRISTI, TEXAS — Pier 1 Imports are seeking approval from a bankruptcy court to start closing its retail operations as soon as reasonably possible,

Once stores are able to reopen following lock-downs during the pandemic, Pier 1 filed for chapter 11 in February.

This includes the location at Moore Plaza.

It plans to sell its inventory and remaining assets, including its online business.

The company says it is still serving customers through its website and filling and shipping orders.

“We are grateful to our dedicated and hardworking associates, millions of customers and committed vendors who have collectively supported Pier 1 for decades," said Robert Riesbeck, Pier 1’s Chief Executive Officer and Chief Financial Officer in the press release. "We deeply value our associates, customers, business partners and the communities in which we operate, and this is not the outcome we expected or hoped to achieve. 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.”

Pier 1 stores have been temporarily closed since March 22.

The home good store was first founded in 1962, and has 541 stores nationwide.