Hundreds Of Stores To Close As Pier 1 Imports Files Bankruptcy
It hasn't been a good start to 2020 for home furnishings chain Pier 1 Imports. The California-founded retailer began the year with an announcement that more than 400 stores were closing, and now, this week, have announced the company is filing for bankruptcy protection.
More than 400 Pier 1 Imports stores will close this year, and on Monday (February 17) it was announced that the company is filing for bankruptcy, according to details shared by eastidahonews.com. In January, the call to close 450 stores was made in an effort to rebound from years of financial loss at the hands of online retailers.
I attempted to reach out to management at our Twin Falls store, located at 1676 Locust Street North, and was directed to contact a Jennifer Reeder, who is a public relations official for the company. As of 1:30 p.m. (February 18), I haven't heard back on whether or not the announcement will immediately affect our local store.
Pier 1 Imports has operated at its Twin Falls location for many years. The retailer opened its first store in 1962 in California; the company is currently headquartered in Texas.
Despite struggles by KOHLs, which also specializes in home furnishings, a new store is scheduled to open here in Twin Falls at the Magic Valley Mall next month. Bed Bath & Beyond has also fallen on hard times in recent years, and has seen company shares plummet.
It's not immediately known if the Twin Falls Pier 1 location is part of the more than 400 stores closing this year. We will continue to keep you updated on this development as we find out more information.