Pier 1 Imports

Pier 1 filed for bankruptcy early on in 2020. It also tried and failed to find a buyer for the business. Because of COVID-19, the chain will be closing all stores still remaining in the United States - not half of their stores, as was announced earlier in 2020.

Charles Tandy was impressed enough to request the opportunity to open another Cost Plus Imports store while securing the rights to establish additional stores. Cost Plus Imports became Pier 1 Imports in 1966, selling unusual home goods and furnishings from India and Southeast Asia.

Fort Worth, TXPier 1 Imports / Headquarters

On May 30, it was announced that Pier 1 Imports had received court approval to liquidate all locations. Pier 1 announced that they plan to close all stores by the end of October 2020.

Pier 1 filed for bankruptcy early on in 2020. It also tried and failed to find a buyer for the business. Because of COVID-19, the chain will be closing all stores still remaining in the United States - not half of their stores, as was announced earlier in 2020.

The biggest problem Pier 1 faces is its inability to find a sweet spot. In its heyday, Pier 1 offered aesthetically interesting items that were slightly cheaper than top design brands but more expensive than the average discount furniture warehouse. Today, the market for this type of product no longer exists.

In July 2020, Retail ECommerce Ventures (REV) bought the rights to Pier 1 and planned to revive the brand as an ecommerce store. At the end of October 2020, Pier 1 Imports closed its remaining stores and transferred its website to REV, which is doing business as Dallas-based Pier 1 Imports Online, Inc.

After closing all its stores earlier this year, Pier 1 Imports is back - kind of. The home furnishings retailer relaunched last week as an online-only store at Pier1.com.

After acquiring Pier 1's trademark name, intellectual property, data and e-commerce assets, new owner Retail Ecommerce Ventures (REV) is relaunching the retail brand as an online store, according to a Thursday press release. Pier 1 closed its brick-and-mortar stores earlier this year as part of its bankruptcy plan.

Roughly 540 brick-and-mortar stores and its online operations shuttered last fall. Online sales, however, are now in full force for Pier 1.

Pier 1 Imports