The Fort Worth, Texas- based company said Tuesday that it was unable to find a buyer for its business after filing for bankruptcy protection earlier this year.
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 traces to a single store in 1962 that sold beanbag chairs and love beads to hippies in San Mateo, California. It expanded to offer just about anything for the home, from lounge chairs to 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 and Amazon, which sell sofas and coffee tables at a lower price and deliver them quickly. Other chains that have failed to connect with customers have filed for bankruptcy protection recently, including J.C. Penney and J.Crew.
Overpriced victim of onliners like Wayfair.
so overpriced
Loved this store but they wouldn’t ship and couldn’t order online. Feel they missed tons of opportunities to keep up.
Old fashioned model of business.
And this is just the beginning of what's to come
More like Pier Done!!!!!
Shoulda made at least ONE item affordable for when I would browse 😂
Never bin there
Oh i don't care
See what you’ve done !
This was announced months ago?
Disgusting people in this thread cheering for job loss. You people are sick.
They closed well before the virus hit and lock down happened. So why they blaming the virus?🤔
Wow , Trudeau and his handlers must be jumping for joy.
Not sure why this is news today unless you are talking about American stores. Canadian Pier 1 stores shut down before any talk of Covid lockdowns.
Good-by! If the week can't survive then go! stop using tax money for these looser businesses.
Did it to themselves refusing online sale Platform.
This store hasn’t been relevant nor viable for quite some time.
Weren't they closing stores way before the virus?
Now I can’t look at all the beautiful home decor, that I could never afford.
They were way too expensive and usually situated next to Winners so you could browse Pier 1 & buy something similar but way cheaper next door
Oh no!!
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Fonte: globeandmail - 🏆 5. / 92 Leggi di più »