After filing for bankruptcy three months ago, Pier 1 has announced plans to close all of its locations nationwide. A press release put out by the company cited shutdowns caused by COVID-19 and failure to find a buyer as reasons for the decision.
“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,” said Robert Riesback, Pier 1’s CEO and CFO, in a written statement.
Pier 1 began in 1962 with a single store in San Mateo, California, and eventually grew to more than 1,000 locations. In January, the company announced roughly half of the stores would close. Springfield did not appear to be part of the 450 locations planned for closure, although a number of stores in the Chicago area and as close as Forsyth appeared on the initial closures list.
Pier 1 now says all stores will begin liquidation sales once locations are able to reopen and store closure dates will vary by location.