The New York Post reports:
Pier 1 Imports is calling it quits. The bankrupt home-goods retailer has asked a court for permission to liquidate its remaining 540 stores once they reopen, ending a 58-year legacy of selling colorful glassware, wicker furniture and other home decor.
“This is not the outcome we expected or hoped to achieve,” Robert Riesbeck, Pier 1’s chief executive and chief financial officer said in a statement.
The Fort Worth, Texas-based retailer filed for bankruptcy protection in February, pushed to the brink by increasing competition from online home furnishing giant, Wayfair.com, Target and Walmart.