Pier 1 announces the permanent closure all 540 North American locations
COVID-19 continues to wreak havoc on the retail industry as Pier 1 announced on Tuesday that instead of restructuring its business it would instead shut down operations. That decision includes all 540 North American locations of the store.
While some businesses have been able to adapt quickly and offer up a bunch of online retail options, others have been hit too hard to recover. The pandemic-induced lockdown proved to be too much for Pier 1 to handle. The company had already filed for bankruptcy back in February, but the timing of COVID couldn’t have been any worse.
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What started as a hippie shop back in 1962 in California, became a massive retail chain with nearly 1,200 stores at its peak. It was operating around 50 Canadian and 500 American stores when it declared bankruptcy but now it will dissolve entirely.
Well, that’s tough to see but it shouldn’t come as any surprise with competitors like Wayfair and Amazon out there. Thanks for the years, Pier 1! Our mothers loved your pillows.
