Business & Tech
Pier 1 To Close All Stores, Including South Bay Location
Stores will reopen long enough to sell-off all inventory.
RANCHO PALOS VERDES, CA — Pier 1 Imports will reopen stores after the forced coronavirus closures, but only long enough to sell all inventory. The once-popular specialized home furnishings and accessories importer announced Tuesday that all 541 of its US stores will close and the company will be liquidated.
In a news release, Pier 1 announced: "the Company intends to sell its inventory and remaining assets, including its intellectual property and e-commerce business, through the court-supervised process."
The company filed for Chapter 11 bankruptcy protection in February and had been seeking a buyer, but once coronavirus forced the closure of all stores in March there were no offers.
Find out what's happening in Palos Verdesfor free with the latest updates from Patch.
Pier 1 has a store in the South Bay at 23000 Hawthorne Blvd. in Torrance. There are more than a dozen stores sprinkled around Los Angeles County.
Pier 1 Imports was founded in San Mateo in 1962. It continues selling products online at pier1.com.
Find out what's happening in Palos Verdesfor free with the latest updates from Patch.
Patch Staffer Bea Karnes contributed to this report.
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