Bankrupt Pier 1 Imports To Close All Stores

Smithtown NY

19 May, 2020

7:15 PM

Description

LONG ISLAND, NY — Pier 1 Imports will reopen stores after the forced coronavirus closures, but only long enough to sell all inventory. The once-popular specialized home furnishings and accessories importer announced Tuesday that all 541 of its U.S. stores, including four on Long Island, will close and the company will be liquidated. In a news release, Pier 1 said: "the Company intends to sell its inventory and remaining assets, including its intellectual property and e-commerce business, through the court-supervised process." The company filed for Chapter 11 bankruptcy protection in February and had been seeking a buyer, but once coronavirus forced the closure of all stores in March there were no offers. Pier 1 has stores in Lake Grove, Rocky Point, Massapequa Park and Freeport. It closed its other eight Long Island stores earlier this year. Pier 1 Imports was founded in Califorina in 1962. It continues selling products online at pier1.com. —Bea Karnes, Patch