Pier 1 Imports files for bankruptcy and posts a FOR SALE sign

Pier 1 Imports filed for Chapter 11 bankruptcy protection and announced Monday that it will close 450 locations nationwide.

The company is also in the process of closing two distribution centers to reflect its revised store footprint. Nine Massachusetts locations will close, including the previously announced closure of the Holyoke location, according to Pier 1′s Facebook page.

Pier 1 has not put out list of all the stores it will close. But Business Insider compiled a list by comparing an older list it had with the Pier 1 website after the stores that are to be closed had been removed.

According to Business Insider, missing from the list are stores at:

  • 120 Granite St., Braintree
  • 1 Worcester Road, Framingham
  • 289 North Main St., Leominster
  • 133 Turnpike St., North Andover
  • 555 Hubbard Ave., Pittsfield
  • 122 Colony Place Road, Plymouth
  • 145 Highland Ave., Seekonk
  • 9 Mozzone Boulevard, Taunton

Staffers at the Pittsfield location on Monday confirmed the closure but didn’t know when the last day will be.

Last month, Pier 1 reported that its comparable-store sales fell 11.4% in its most recent quarter compared with the same time period a year before. The chain said it is having trouble competing with online retailers and discounters.

Source
https://www.masslive.com/news/2020/02/pier-1-files-for-bankruptcy-plans-to-close-9-massachusetts-stores-including-holyoke.html

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