Pier 1 Plan to Cease Operations Approved

Pier 1 (Fort Worth, Texas) has received approval from the U.S. Bankruptcy Court for the Eastern District of Virginia on its plan to wind down operations, according to a press release. The home goods retailer will begin liquidation sales once stores can reopen according to local COVID-19 guidelines.

“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.”

The company will hold liquidation sales through the end of October.