Pier 1 Imports Inc. has filed for bankruptcy with plans to sell the company, less than two months after the troubled home-decor retailer said it planned to close up to 450 stores and cut costs to slow down its cash burn.
The home furnishings chain has said it filed for chapter 11 protection Monday in the U.S. Bankruptcy Court in Richmond, Va., after warning in January about its ability to stay in business within the next year.
Big signs in that window. Almost hard to miss. Now imagine sitting in the newsroom, seeing this graphic and not immediately asking literally everyone - where is Warren? mediablackout PresidentWarren ewarren teamwarren
That’s too bad. I use to work for Pier 1 and met a lot of great people
mystictsunami betta use that gift card.
Surprised they lasted this long with their overpriced crap that ends up in a garage sale in 5 years
I hate that store over priced junk from China
More winning
It doesn’t aPier to be doing well
It's always greed. How can you have 6 stores within the radius of 10 to 12 miles with 2 stores on Richmond Highway in Alexandria, Va. And another 1 on Duke st. In same Alexandria. 1 in Arlington, 1 in Springfield and 1 in Falls Church. What do you expect?
Pier 1 Junk
when was the last time anyone went to pier 1
It’s not the economy, and it’s not “failing retail.” It’s “we think we can sell a millennial a $1800 dining room table.” You can’t. As for the boomers, they are still using their dining table from the 70s. Furnishings are a nearly impossible market if you don’t have deals. Boom.
Good riddance. Crazy markups on cheap crap.
And Donald Trump is TAKING CREDIT RIGHT?
I thought only CDN stores were closing? Scary! First Zellers, Target then Sears closed in Canada. Now Pier 1. Sad.
I have never shopped at a Pier 1 and no my chance is gone. Darn
My Pier 1 just closed. It was next door to TJM Home Goods. I rarely shopped at P1 since I can buy same stuff at TJMHG for 70% less.
I remember I got their emails for a while and wasn't in the market for anything for a time. They gave me a week or so to purchase something or they'd automatically unsubscribe me. Why would you NOT want to send marketing emails to potential clients? Bad move.
As long as the Owners have jets, cars and mansions bankruptcy should be denied! Pay your damn bills like the rest of us!
$w and wayfair next in line its all overpriced
Omg say it ain’t so? People didn’t want to pay for overpriced furniture? Tons of them around? So not enough revenue to cover expenses? Never saw this one coming 😂
I'm sure there are other stores to Live Laugh Love
When the last man standing in the retail landscape is Jeff Bezos, and our bricks-and-mortar stores are overwhelmingly vacant from sea to shining sea — with only 'vulture capitalists' such as Mitt Romney the better off for it — perhaps we will rediscover a use for antitrust law.
I am quite confused...one hand says this is the “greatest” economy ever, on the other folks are struggling with layoffs and bankruptcies...
millennials don’t have $300 to blow on a lamp, pier 1 🤷🏻♀️ sorry
Ret_Archaeology
I love Pier 1.
I worked as a temp for them in 2009 in a store that was closing..this has been a long time coming
But aint Trump Economy so Bedazzling Brilliant!! Funny Pier 1 survived the 2008 Great Recession but can’t go on in this lovely economy! The TrumpBubble is getting real!
Been eyeing for a bookcase that costs $800. I had it in my cart for 2 yrs now. Now it's $500 on sale. Guess I should wait 'til the price drops to $100 or less before I checkout😁
Never even heard of pier1
Cheap goods made at low cost sold at a high markup. What could have possibly gone wrong?
Another amazon casualty
Get use to similar headlines in the next 4 years. AmericaNeedsYang
Not Pier1!! They are my favorite!
Fine store, will miss the good stuffs. 😥
I will miss them!
So the company was able to survive during financial crisis but in this so called greatest economy ever their going to declare bankruptcy
Cannot understand how it's lasted this long.
Can’t fight the digital age!
Can some Bernie bro chime in and blame Trump somehow ?
superherofive I was just talking with you about this.
They hung in there a LOT longer than we thought!
Robert Riesbeck is the same guy who was brought in as CEO at hh gregg and we know how that turned out.
Reality is what matters
BREAKING: PIER 1 IMPORTS STILL EXISTS
Wait this didn’t already happen?
Nobody wanted to pay $5000 for an artistic chandelier cover?
There just isn’t any money in $800 whicker table decorations and oversized martini glasses anymore. What’s the world coming to?
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: CNBC - 🏆 12. / 72 Read more »
Source: CNBC - 🏆 12. / 72 Read more »
Source: Reuters - 🏆 2. / 97 Read more »
Source: ELLE Magazine (US) - 🏆 472. / 51 Read more »
Source: Mirror Celeb - 🏆 476. / 51 Read more »
Source: Reuters - 🏆 2. / 97 Read more »