Pier 1 Imports Inc. said it would seek bankruptcy court approval to wind down its brick-and-mortar operations after the coronavirus pandemic made it difficult for the U.S. retailer to find a buyer.
The company said in a statement Tuesday it intends to sell its inventory and remaining assets, including its intellectual property and e-commerce business, through the court-supervised process. Pier 1 filed to begin an orderly wind-down “as soon as reasonably possible” after stores are able to reopen following government-mandated closures because of the pandemic.
“This decision follows months of working to identify a buyer who would continue to operate ...
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