SAN FRANCISCO (KRON) – Pier 1 Imports, which previously said it would close half of its stores amid its bankruptcy filing, has announced it will close all locations.
The Texas-based home goods retailer said in a statement 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.”
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.
“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,” Riesbeck said.
Pier 1 is currently 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.
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