Pier 1 plans to close all stores

May 19, 2020

Pier 1, which filed for bankruptcy in February, is seeking court approval to close all its stores.

According to a statement from the company, it seeks “to begin an orderly wind-down of the company’s retail operations as soon as reasonably possible after store locations are able to reopen following mandated closures during the COVID-19 pandemic. The company expects to continue serving customers in its stores through early fall 2020. Store closing dates will vary by location.” No reopening dates were announced.

The company had been trying to find a buyer and originally planned to close up to 450 of its 942 stores. Locations in Sioux Falls and Rapid City were not on that closing list.

“We are grateful to our dedicated and hardworking associates, millions of customers and committed vendors who have collectively supported Pier 1 for decades,” CEO Robert Riesbeck said in a statement. “We deeply value our associates, customers, business partners and the communities in which we operate, and this is not the outcome we expected or hoped to achieve. 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 is seeking bids for its assets and has proposed an auction date of July 8.

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Pier 1 plans to close all stores

Pier 1, which filed for bankruptcy in February, is seeking court approval to close its stores.

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