Pier 1 Imports, one of the original home furnishing stores that expanded throughout the U.S. starting in the 1960s, is liquidating its business as soon as it can get its stores open again.
The Fort Worth, Texas-based home furnishings retailer filed for bankruptcy in February and was trying to reorganize about 450 stores, or find a buyer who would keep the business alive.
The coronavirus pandemic dashed those hopes.
Pier 1 said Tuesday it has filed a motion with the bankruptcy court to approve “an orderly wind-down of the company’s retail operations as soon as reasonably possible after store location are able to reopen.”
The chain has four stores in the Richmond region.