Pier 1 To Permanently Close All Stores, Including Lake Forest

Lake Forest CA

19 May, 2020

8:22 PM

Description

LAKE FOREST, CA — 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 US stores will close and the company will be liquidated. In a news release, Pier 1 announced: "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 a store at 23600 block of El Toro Road in Lake Forest, with more stores sprinkled around Orange County. Pier 1 Imports was founded in San Mateo in 1962. It continues selling products online at pier1.com. Patch Staffer Bea Karnes contributed to this report. Don't miss local and statewide news about coronavirus developments and precautions. Sign up for Patch alerts and daily newsletters.