We need to find a new favorite place to buy scented candles, seasonal decor and wicker furniture. Pier 1 announced today that they would be permanently closing all of their locations. In a news release the retailer stated that they were not able to find a buyer after filing for bankruptcy earlier this year.
Robert Riesbeck, Pier 1’s Chief Executive Officer and Chief Financial Officer said, “We are grateful to our dedicated and hardworking associates, millions of customers and committed vendors who have collectively supported Pier 1 for decades. 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 is still accepting orders on its website and said it will “initiate store closing efforts and liquidation sales once store locations can reopen, in compliance with COVID-19 guidelines from local government and health officials.”
The company says it has approximately 541 U.S. stores and in the court filing says it plans to reopen some stores on or around May 22.
—Jennifer Swartvagher
Featured photo: Mike Mozart from Funny YouTube, USA
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