Pier 1 Files for Chapter 11 Bankruptcy, Will Close 450 Stores & All Stores in Canada
From Pier 1 to pier none! USA Today reports that the home-goods retailer filed for Chapter 11 bankruptcy protection on Monday and is expected to close about 450 of its stores. All of the company’s Canadian outposts will also shutter for good. “The company expects to operate its business in the normal course during this process,” Pier 1 said in its statement, with retail stores and the company’s e-commerce platform remaining open for the time being.
There has been no indication when the stores will close or how many jobs will be lost.