“We deeply value our associates, customers, business partners and the communities in which we operate, and this is not the outcome we expected or hoped to achieve,” Pier 1’s CEO, Robert Riesbeck, said in the statement. “This decision follows months of working to identify a buyer who would continue to operate our business going forward. Unfortunately, the challenging retail environment has been significantly compounded by the profound impact of COVID-19, hindering our ability to secure such a buyer and requiring us to wind down.” Pier 1’s stores are currently closed in compliance with COVID-19 guidelines from government and health officials, but once they are able to reopen, they will begin the wind-down process. And yes, there is one small silver lining: the company does plan to sell all of its inventory and have liquidation sales. If you want to safely skip the in-person shopping, Pier1.com already has a sitewide Memorial Day sale in effect that you can shop right now.
