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The company announced plans to run liquidation sales through the end of October once stores can reopen in compliance with novel coronavirus (COVID-19) restrictions, officials said in a statement.
Intellectual property will also be sold in the bankruptcy, officials said.
“This is not the outcome we hoped for when we began this process, and we are deeply saddened to move forward with winding down Pier 1,” said Robert Riesbeck, Pier 1’s Chief Executive Officer and Chief Financial Officer.
“We are incredibly grateful to everyone who has supported Pier 1 since the Company’s inception nearly 60 years ago, including our committed associates, passionate customers and talented vendors.”
Click here for the full statement from Pier 1.
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