Pier 1 Imports, the home decor retailer, announced Tuesday that it will begin closing all of its company’s 540 stores once they are able to reopen following mandated shutdowns.
The company, which filed for Chapter 11 bankruptcy protection in February, said it was forced to shutter stores because it was unable to find a buyer amid the coronavirus pandemic.
Pier 1 Imports has stores in Cranberry, Monroeville, Greensburg, Monaca, Upper St. Clair and the Fox Chapel area. Two locations — on McKnight Road in Ross and on Washington Road in Washington — were already set to close.
In a message posted on the company’s website, the company is seeking court approval for the plan.
“This is not the outcome we expected or hoped to achieve,” Robert Riesbeck, Pier 1’s chief executive and chief financial officer, said through a statement. “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’s message said store closing dates will vary by location but that stores will continue to be open through early fall 2020.
The company said it will sell its inventory and remaining assets, including its online operations.
“We are grateful to our dedicated and hardworking associates, millions of customers and committed vendors who have collectively supported Pier 1 for decades,” Riesbeck said. “We deeply value our associates, customers, business partners and the communities in which we operate.”
