Pier 1 to go out of business and close all 540 stores

Pier 1, the seller of wicker chairs and scented candles, said it will go out of business and permanently close all 540 of its stores.

News 12 Staff

May 19, 2020, 10:01 PM

Updated 1,514 days ago

Share:

Pier 1 to go out of business and close all 540 stores
NEW YORK (AP) - Pier 1, the seller of wicker chairs and scented candles, said it will go out of business and permanently close all 540 of its stores.

The Fort Worth, Texas- based company said Tuesday that it was unable to find a buyer for its business after filing for bankruptcy protection earlier this year.

It will start going-out-of-business sales as soon as it can reopen stores that have been temporarily shut due to the coronavirus pandemic.

Pier 1 traces to a single store in 1962 that sold beanbag chairs and love beads to hippies in San Mateo, California. It expanded to offer just about anything for the home, from lounge chairs to curtains, and it later adopted the logo: “From Hippie to Hip.” At its height, Pier 1 had more than 1,200 stores.

But in recent years, its sales have fallen as it struggled to compete with online retailers Wayfair and Amazon, which sell sofas and coffee tables at a lower price and deliver them quickly.

Other chains that have failed to connect with customers have filed for bankruptcy protection recently, including J.C. Penney and J.Crew.
(Copyright 2020 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed without permission.)
 


More from News 12
2:16
STORM WATCH: Warm temps with scattered showers and storms through Saturday

STORM WATCH: Warm temps with scattered showers and storms through Saturday

2:25
PSEG Long Island holding 'Power to Feed' food drive in South Setauket

PSEG Long Island holding 'Power to Feed' food drive in South Setauket

0:14
Man wanted for stealing $1,800 worth of medicine from Medford store

Man wanted for stealing $1,800 worth of medicine from Medford store

2:24
Food Truck Friday: Angie’s Empanadas

Food Truck Friday: Angie’s Empanadas

1:34
The Real Deal: How to beat inflation with a summer spending plan

The Real Deal: How to beat inflation with a summer spending plan

0:32
Police: Former Hempstead church leader arrested for sexual abusing, raping girl

Police: Former Hempstead church leader arrested for sexual abusing, raping girl

1:56
Benefit concert held to expand memorial for those who died from 9/11-related illnesses

Benefit concert held to expand memorial for those who died from 9/11-related illnesses

0:14
Whole Foods store opening at Huntington shopping center next Wednesday

Whole Foods store opening at Huntington shopping center next Wednesday

0:24
Police: 16-year-old saved 2 teen swimmers in distress near Point Lookout Town Beach

Police: 16-year-old saved 2 teen swimmers in distress near Point Lookout Town Beach

0:50
Shootout For Soldiers fundraiser in Massapequa Park hopes to raise $185,000 for veteran organizations

Shootout For Soldiers fundraiser in Massapequa Park hopes to raise $185,000 for veteran organizations

2:13
Neighbors of suspected Gilgo Beach killer say quiet block has grown crowded since arrest

Neighbors of suspected Gilgo Beach killer say quiet block has grown crowded since arrest

2:06
Coram man sentenced to 25 years to life for trying to kill Suffolk police officer

Coram man sentenced to 25 years to life for trying to kill Suffolk police officer

0:23
Police: Child dies days after being found unconscious in North Haven pool

Police: Child dies days after being found unconscious in North Haven pool

1:41
Wedding dress giveaway held for military brides and first responders

Wedding dress giveaway held for military brides and first responders

0:29
Lindenhurst man indicted on child porn charges

Lindenhurst man indicted on child porn charges

0:26
Elmont man to serve 25 years to life in prison after admitting to fatally strangling woman

Elmont man to serve 25 years to life in prison after admitting to fatally strangling woman

1:43
New York Marine Rescue Center releases seal pup at Tiana Beach in Hampton Bays

New York Marine Rescue Center releases seal pup at Tiana Beach in Hampton Bays

0:46
Red tail hawk crashes into News 12 studio building in Bethpage

Red tail hawk crashes into News 12 studio building in Bethpage

2:12
Best Beaches: We are at Coopers Beach in Southampton

Best Beaches: We are at Coopers Beach in Southampton

0:30
Police: Hicksville man arrested for striking man with knife over parking dispute in Franklin Square

Police: Hicksville man arrested for striking man with knife over parking dispute in Franklin Square