Pier 1 Imports To Close Los Angeles Stores

LOS ANGELES, CA — Stores in Northridge and Hollywood are among more than a dozen Southland Pier 1 Imports stores to shut down, the company announced this week. The retail chain said up to 450 locations — about half of its total — would be closed to “better align its business with the current operating environment.”

The company plans to close certain distribution centers and lower its corporate spending, as well as lay off workers at the corporate level.

The home furnishing store is using a third-party liquidator to help with the closings, noting that its lenders signed off on its plan to reduce its brick-and-mortar footprint.

There was no immediate word on exactly when the stores would close their doors this spring. According to the Los Angeles Daily News, seven Los Angeles County areas stores — including, Pasadena, Santa Monica, Thousand Oaks, Long Beach and West Covina — and 20 Southland stores, overall, are slated for closures.

Robert Riesbeck, CEO and CFO of the retail chain, thanked store workers for their hard work and commitment to serving customers.

“Although decisions that impact our associates are never easy, reducing the number of our brick-and-mortar locations is a necessary business decision,” he said in a statement.

The planned closures come as the company deals with less foot traffic.

Net sales for the third quarter plummeted more than 13 percent to $358.4 million. That number was $413.2 million in the same quarter for the previous fiscal year. Company comparable sales fell more than 11 percent compared to the same period a year ago.