"This is not the outcome we hoped for when we began this process, and we are deeply saddened to move forward with winding down Pier 1," CEO Robert Riesbeck said in a statement.Visit Business Insider's homepage for more storiesPier 1 Imports is shutting down its business after the US Bankruptcy Court for the Eastern District of Virginia approved its request to wind down its operations.
The retailer previously filed for Chapter 11 bankruptcy protection in February, after announcing roughly 450 store closures, according to Business Insider's. The retailer failed to attract a buyer for its business, which has been affected by the coronavirus pandemic.
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Sad. I love their mdse.
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