Pier 1 To Close 450 Stores: Pasadena Location Uncertain

Pasadena CA

07 January, 2020

7:14 PM

Description

LOS ANGELES, CA — Pier 1 Imports announced Monday it intends to reduce its store footprint by up to 450 locations and it will close certain distribution centers. The company also said there will be layoffs at the corporate level. Pier 1's business update came as part of its financial results for the third quarter ended November 30, 2019. Pasadena is home to a Pier 1 at 422 S Lake Ave. Details on closure locations have not yet been disclosed. "Although decisions that impact our associates are never easy, reducing the number of our brick-and-mortar locations is a necessary business decision. We thank our team of hard-working associates for their commitment to Pier 1 and to serving our customers," said Robert Riesbeck, Pier 1's chief executive officer and chief financial officer. To help manage the store closings, the company is using the services of a third-party liquidator. Last fall, Pier 1 announced up to 145 store closings were possible in coming months. Founded with a single location in 1962, Pier 1 Imports currently operates 936 stores in the U.S. By Toni McAllister, Patch Staff