No.253036
By Sommer Brokaw
Pier 1 filed for bankruptcy Monday after reaching an agreement with lenders and will pursue sale of the company.
The Fort Worth, Texas, company has reached a plan with lenders to provide it $256 million and commenced Chapter 11 bankruptcy proceedings and pursue of sale, which it hopes will help stakeholders, a statement said.
Pier 1 also said the plan will help it complete the closure of up to 450 stores previously announced amid slumping sales among its more than 900 stores, including all its stores in Canada.
To date, the company has closed or initiated going-out-of-business sales at over 400 locations and is in the process of closing two distribution centers to reflect its smaller footprint, the company statement said.
https://www.upi.com/Top_News/US/2020/02/17/Pier-1-files-for-bankruptcy-pursues-sale-of-company/6921581967255/
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No.253088
This is what happens when your prices are too damn high!
and when you discontinue products that long term loyal customers buy regularly…
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No.253091
>>253088
Show us on this anatomically correct doll where Pier 1 imports touched you.
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