Tuesday, February 18, 2020

Ailing Pier 1 Imports declares bankruptcy

CBS News
Pier 1 Imports declared bankruptcy on Monday in a move aimed at facilitating a sale of the struggling home furnishings company.

The publicly listed retailer is in talks with multiple potential buyers, the company said in a statement that did not disclose possible buyers. It also reiterated a previously announced plan to cut about 40% of headquarters staff and close as many as 450 stores, or about half of the chain's locations. . . . more