Friday, September 27, 2019

Pier 1 Imports Store Closings: Retailer Prepares To Close More Than 140 Locations

International Business Times
The list of store closures may grow as the company reported a $100.6 million loss in the second fiscal quarter of the year and is looking to cut as much as a reported 15 percent of its locations.

Pier 1 interim CEO Cheryl Bachelder said during the company’s Q2 earnings call on Wednesday that active discussions have been going on with landlords with some progress being made on rent terms. Despite these efforts, the retailer is preparing to close more than 140 locations if can’t get its landlords to cooperate, the news outlet reported.

Pier 1 reportedly closed 70 locations so far this year and currently has 951 locations currently operating. . . . more