These locations will shutter soon

125 stores to close, 2,000 jobs to be slashed

[ad_1]

Pier 1 Imports is closing up to 450 locations, which includes all of its stores in Canada, the retailer said Monday as it filed for Chapter 11 bankruptcy protection.

More than a month after the Fort Worth, Texas-based home goods retailer said it would reduce its store footprint “to better align its business with the current operating environment,” Pier 1 announced it had filed for bankruptcy.

In a news release, Pier 1 said it has “closed or initiated going-out-business sales at over 400 locations” and said the Canada stores are included in the previously announced 450 figure.

A list with 331 U.S. store closings was posted on A&G Realty Partners’ website. According to Pier 1, the company is assisting Pier 1 with store closures and lease modifications.

The bankruptcy filing isn’t unexpected.

In April 2019, after Pier 1 announced it could close as many as 145 stores, about 15% of its nearly 1,000 locations, S&P Global Ratings warned that the “potential for a bankruptcy filing or debt restructuring is continuing to increase” for Pier 1 as its retail performance continues “to deteriorate significantly.”

USA TODAY reported in December that Pier 1 was one of several struggling retailers in the fight of their lives in 2020. 

Pier 1 Imports bankruptcy:Chain files for Chapter 11 as it continues closure of up to 450 stores

Sears and Kmart store closings continue:Is your location closing in early 2020?

Pier 1 store closings list by state

Some of the following stores may have already closed, according to Pier 1’s news release Monday. Contact your closest location before heading to the store, but note closing locations have been deleted from the store website in most instances.

Alabama Pier 1 closures

  • Dothan: 200 Buyers Drive
  • Foley: 2863 S McKenzie St.
  • Hoover: 1727 Montgomery Highway Riverchase
  • Mobile: 3787 Airport Blvd.
  • Tuscaloosa: 1525 Skyland Blvd. E



[ad_2]

Source link

Published
Categorized as Top Stories

By Javier Manning

Javier has been in the field of content writing for almost 8 Years as he hails from the Biotechnology background. The edifying articles portray her craving towards language. His keen hobby of reading technological innovations related books or articles has sown the seed of being a well-versed editor with the current scenario of numerous industry verticals. He is one of the valuable assets to this publication. The Industry News Press has awarded him with a senior editors post based on his skillful performance to date.