Wednesday, April 8, 2020

Pier 1 weighs bid that would close most — but not all — of its stores

Chain Store Age
Pier 1 Imports, which filed for bankruptcy protection in February, is expected to receive a revised purchase offer that would keep open less than 100 of the retailer’s 900-plus locations, reported Bloomberg.

The bid is from CSC Generation, whose DirectBuy subsidiary acquired the assets of Z Gallerie in a bankruptcy auction last summer. It comes as Pier 1’s bankruptcy court process has been put on hold while its stores are temporarily closed due to the COVID-19 pandemic.. . . more