Pier 1, the seller of wicker chairs and other home goods, said going-out-of-business sales will start as soon as it can temporarily reopen stores shut by the pandemic.
Pier 1 Imports Inc., the seller of wicker chairs and scented candles, said it will go out of business and permanently close all 540 of its stores.
The Fort Worth company said Tuesday that it was unable to find a buyer for its business after filing for bankruptcy protection this year. It said it will start going-out-of-business sales as soon as it can reopen stores that have been temporarily shut due to the coronavirus pandemic. Pier 1 started with a single store in 1962 that sold beanbag chairs and love beads to hippies in San Mateo, Calif. It expanded to offer just about anything for the home, including lounge chairs and curtains, and it later adopted the logo “From Hippie to Hip.” At its height, Pier 1 had more than 1,200 stores.But in recent years, its sales have fallen as it struggled to compete with online retailers Wayfair Inc. and Amazon.com Inc.
Other chains that have failed to connect with customers and have filed for bankruptcy protection this month
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