Bankruptcy Law News

Pier 1 is Said to Consider Bid That Would Close Over 800 Stores

April 7, 2020, 6:49 PM

Pier 1 Imports Inc. is expected to receive a revised purchase offer in bankruptcy that would keep open fewer than 100 of the company’s 900-plus locations, according to people with knowledge of the developments.

The bid, from a company called CSC Generation, comes after the retailer’s bankruptcy court process waspaused while stores are shuttered in accordance with coronavirus containment measures. Bloomberg previously reported that Pier 1 was weighing a bid that would keep a small portion of its locations open.

With most liquidation sales halted, stakeholders have fewer options before them when retailers collapse. While bankers and...

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