The Briefing Room
General Category => Economy/Business => Topic started by: PeteS in CA on May 20, 2020, 09:16:47 pm
-
https://www.reviewjournal.com/business/pier-1-going-out-of-business-closing-all-540-stores-2031762/ (https://www.reviewjournal.com/business/pier-1-going-out-of-business-closing-all-540-stores-2031762/)
Pier 1 going out of business, closing all 540 stores
The Associated Press
May 19, 2020 - 3:20 pm
The Fort Worth, Texas- based company said Tuesday that it was unable to find a buyer for its business after filing for bankruptcy protection this year.
It will start going-out-of-business sales as soon as it can reopen stores that have been temporarily shut due to the coronavirus pandemic.
Pier 1 is another retailer that has been stumbling and bumbling down the path to bankruptcy court. Like Sears and JCP, it didn't adjust its business model to keep pace with the marketplace.
-
Reading the Wiki, I learn this store chain started in 1962 and served Hippies in 1966.
There were no hippies in 1962, and in 1966 just a few.
I kow somebody that worked at Pier 1, and she said they were continually changing to some new thing.
A few years ago they seemed busy all of the time.
You can find their type of merch all over the place.
usually not in malls.They have many good retail locations.
-
Reading the Wiki, I learn this store chain started in 1962 and served Hippies in 1966.
There were no hippies in 1962, and in 1966 just a few.
I kow somebody that worked at Pier 1, and she said they were continually changing to some new thing.
A few years ago they seemed busy all of the time.
You can find their type of merch all over the place.
usually not in malls.They have many good retail locations.
My son in law worked for them at HQ in FW. He left as he was marketing and saw the handwriting on the wall.
A really nice building that they had to sell.
-
We had several of their locations, for years.
The merch was relatively interesting, reasonably priced etc.
So over time others got much the same merch, and now you can find pretty much the same merch everywhere.
-
They were awesome back in the day. You could get things there you could get nowhere else.
But, the times caught up with them and they didn't adapt.
-
At one time there were numerous Pier 1 stores in these parts. I don't think any of them are still around today. Really didn't like the merchandise. Too quirky for my tastes. Still, it is sad to see another retailer go under.
-
They were awesome back in the day. You could get things there you could get nowhere else.
But, the times caught up with them and they didn't adapt.
Agree. They set the styles, for several decades of casual decorating.
Too many competitors,
doing much the same thing.