After nearly 60 years of selling decor and home goods, Pier 1 Imports is closing all of its retail stores for good.
In a statement, the company explained Tuesday it had filed for a motion to begin a "wind-down" of its retail operations. It said it would start liquidation sales as "soon as reasonably possible" while following coronavirus-related guidelines.
Pier 1 initially filed for Chapter 11 protections in February, but says the pandemic made it difficult to find a buyer that would continue its operations.
In addition to permanently closing its more than 500 stores, Pier 1 will also try to sell its intellectual property and e-commerce business — meaning it will no longer own its patented material.
Store closure dates will vary by location.
Contains footage from CNN.
