Judge Says Pier 1 Can Skip Store Rent Payments, Pause Bankruptcy

U.S. Bankruptcy Judge Kevin R. Huennekens in a hearing Thursday says he’ll approve Pier 1 Imports Inc.’s request to skip April rent payments at its retail locations, which are closed indefinitely.

• Huennekens also approves retailer’s request to refrain from addressing most motions in the bankruptcy until at least 45 days after its stores re-open
  • “We’re hitting a pause button and we’re taking a breather,” Joshua A. Sussberg of Kirkland & Ellis LLP says in hearing; pause will allow co. to try to find solutions that satisfy concerns of all stakeholders, from landlords to lenders, in hopes of avoiding ...