Glenview Pier 1 Imports Closing As Company Declares Bankruptcy

GLENVIEW, IL — Pier 1 Imports announced the closure of its Glenview store Monday, as the Fort Worth, Texas-based home decor chain files for bankruptcy and looks to find a buyer. The Willow Road location is one of more than a dozen Illinois stores the company plans to shutter, but a final closing date had not yet been disclosed.

Last month, Pier 1 disclosed it intends to close 450 stores around the country. The company has already started or completed going-out-of-business sales at more than 400 locations. A third-party liquidator will assist with the closing, the company announced.

"In recent months, we have taken significant steps forward in our business transformation and cost-reduction initiatives," Pier 1 CEO Robert Riesbeck said in a statement. "We have worked to establish an appropriately sized and profitable store footprint, operating structure and merchandise assortment that will enable Pier 1 to better serve our customers across store and online channels. Today's actions are intended to provide Pier 1 with additional time and financial flexibility."

The company is also closing two distribution centers and all its stores in Canada.

In the statement, Riesbeck said the company is "pleased with the initial interest as we engage in discussions with potential buyers."

As part of the court-supervised sales process, bids are expected to be due by March 23, subject to court approval, according to company's announcement.

Pier 1's statement said the company expects to "smoothly transition" its business into Chapter 11, including continuing to pay wages and benefits, as well as pay vendors and suppliers.

"We appreciate the ongoing dedication of our associates, whose efforts in providing our loyal customers with the experience they expect from our brand are critical to our success and the future of Pier 1," the CEO said.

Staff at the 2331 Willow Road location said they have not been informed of a final closing date.

A spokesperson for the Illinois Department of Commerce and Economic Opportunity has not responded to questions about whether Pier 1 had informed state officials of any a timeline for mass layoffs.

A&G Realty Partner is assisting the company with its store closings and changes to its leases, according to Pier 1. A&G posted a list of closings that reflect the 13 Illinois locations removed from the Pier 1 website in January, which included the Willow Road store.

In addition to the Glenview location, the closures of the following Illinois locations were confirmed with the bankruptcy announcement.

1. Algonquin: 718 S. Randall Road
2. Aurora: 4362 E. New York St.
3. Batavia: 481 N. Randall Road
4. Bloomingdale: 360 W. Army Trail Road
5. Bolingbrook: 1116 W. Boughton Road
6. Bourbonnais: 1660 N. State Route 50
7. Carbondale: 1401 E. Main St.
8. Chicago: 1014 S. Canal St.
9. Chicago: 1574 N. Kingsbury St.
10. DeKalb: 2371 Sycamore Road
11. Forsyth: 987 S. Route 51
12. Mundelein: 3062 W. Route 60
13. Oak Park: 1143 W. Lake St.
14. Schaumburg: 1522 E. Golf Road
15. South Elgin: 358 Randall Road

The closures of the store in Chicago's South Loop and the Bourbonnais and DeKalb locations had not been previously announced.

The remaining Pier 1 stores and website are open and operating, and the company said it "expects to operate its business in the normal course during this process."

As of Monday, Illinois Pier 1 locations set to remain open include stores in Chicago Ridge, Deer Park, Joliet, McHenry, Orland Park, Oswego, Rockford, Tinley Park, Vernon Hills and Wheaton.

Patch staffers Kara Seymour and Shannon Antinori contributed.