Tuesday, September 20, 2016

Alden Global reports 9.5 percent stake in Pier 1 Imports

Image result for pier 1Hedge fund firm Alden Global Capital LLC revealed a 9.5 percent stake in home-goods retailer Pier 1 Imports Inc., which is searching for a new CEO amid disappointing sales.

In a regulatory filing, Alden said it has been in contact with Pier 1 management regarding shareholder representation to the board, the company’s recent financial results and the search for a new chief executive. Alden said it intends to continue the communication and that it believes that Pier 1 is “at a critical juncture.”. . . more

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