Pier 1 Imports files for Chapter 11 bankruptcy

[left-of-center2012]

Mall furniture chain Pier 1 Imports announced Monday it has filed for Chapter 11 bankruptcy, as it continues to look for a buyer.

The company said it will close up to 450 stores, including all of its stores in Canada, as part of the bankruptcy proceedings. The store closures were previously announced, and to date the company has closed or initiated going-out-of-business sales at more than 400 locations.

As for now, Pier 1's remaining stores and e-commerce platform remains open and operating, the company said, adding it hopes to operate business as normal over the course of this process.

Once a mall staple, Macy's announced a massive restructuring earlier this month that will involve closing 125 stores. Fellow mall chain Forever 21 filed for bankruptcy in late September, though it announced last month it may have found a buyer. In late 2019, Iconic New York City-based retailer Barneys filed for bankruptcy

https://abcnews.go.com/Business/pier-imports-files-chapter-11-bankruptcy-continues-search/story?id=69033870

[kimbutgar]

1. But the economy is booming!!!!!

I know the excuse of Amazon will be brought up but people just don’t have enough disposable income these days. All those retail workers out of jobs. Where will the new jobs be? If MF45 going to also cut off unemployment?

[2naSalit]

3. If he can get away with it he will.

[Yo_Mama_Been_Loggin]

7. Winning Trump style

[customerserviceguy]

11. Brick and mortar stores

that sell items that are more decorative than functional have been looking at this for quite awhile.

We got a Pier 1 gift certificate from friends on the occasion of our move to SC, and my lady figured about two months ago that she needed to use it before it was worthless. We went through the store, trying to find something we could really use, we settled on matching placemats and cloth napkins that go with our kitchen colors. I would have gotten a rack of TV trays, if they had them, at least we could have used them.

[2naSalit]

2. Guess I had better go to

the big city on the other side of the pass and see if there are any bargains at the store over there!

[rickford66]

4. When all retail is extinct

a new generation will want the experience of actually touching or holding a possible purchase and retail will return. And the cycle will repeat.

[Farmer-Rick]

5. Yeah, catalog shopping use to be all the rage.

It wasn't much different than internet shopping.

What goes around comes around.

[left-of-center2012]

6. In the year of 2525

"In the year of 2525
If man is still alive
If woman can survive
They may find"

[The Genealogist]

8. I guess I am a Luddite, I don't like to buy on line as much as go to a store

I've been to these click-bait websites that discuss various topics, one of which stands out: people buying things on line, only to recieve something they were not expecting. Dresses that look nothing like the pictures. Rug-shaped bookmarks when they were expecting an area rug. Doll furniture when they ordered actual furniture. A photocopied picture of an X-box box instead of the actual product. People just laugh it up. Had they gone to a store to get these items, they'd be able to see if it was garbage before they bought it.

I MUCH prefer to go to a store, examine the merchandise, and take it home right then. Retail's on its last leg, unfortunately, which will leave acre upon acre of vacant, rotting buildings in our cities and towns. Oh well, there's always another soul-sucking, crap-paying call center ready to move in so people can have a second or third job to make ends meet in the Trump economy.

[left-of-center2012]

9. I do the majority of my shopping online

Being 73 and disabled, it's convenient.
Also, from years of experience, going to stores I find they often don't have my size, color, what I'm looking for, etc.

I can shop online for the item, and with years of doing this have only been disappointed a very few times.

And many websites have excellent return policies, no questions asked.

[The Genealogist]

10. I can see how it would be simpler for you to do so

and I don't begrudge you shopping that way because of it. You'd have done so with catalogs in years past, no doubt, that being the standard in the past.

[mitch96]

13. I guess their ship has left the dock.......;) nt