Hedge 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