Pier 1 Imports

"Pier 1" redirects here. For the pier in Seattle, see Pier 1, Seattle.
Pier 1 Imports, Inc.
Company typePublic
NYSE: PIR (1970–2020)
IndustryE-commerce, retail
Founded1962; 62 years ago (1962) (as Cost Plus Imports)
San Mateo, California, U.S.
DefunctOctober 31, 2020; 3 years ago (2020-10-31) (as a physical store)
FateChapter 11 bankruptcy liquidation, in response to the COVID-19 pandemic
SuccessorRetail ECommerce Ventures (d.b.a. as Pier 1 Imports Online, Inc.)
HeadquartersFort Worth, Texas, U.S.
Number of locations
>1,000 (at peak in January 2020)
Area served
United States
Canada
Key people
Robert Riesbeck, CEO[1] Cheryl Bachelder, Interim CEO[2]
ProductsFurniture
RevenueDecrease US$1.553 billion (FY2019)
Decrease US$ −188.1 million (FY2019)
Decrease US$ −198.8 million (FY2019)
Total assetsDecrease US$ 656.3 million (FY2019)
Total equityDecrease US$ 89.53 million (FY2019)
OwnerRetail ECommerce Ventures
Number of employees
18,000 (March 2019)[3]
Websitewww.pier1.com
Pier 1 Imports, Liberty Tree Mall, Danvers, Massachusetts (2012)

Pier 1 Imports, Inc., is an online retailer and former Fort Worth, Texas-based retail chain specializing in imported home furnishings and decor, particularly furniture, table-top items, decorative accessories, and seasonal decor. It was publicly traded on the New York Stock Exchange under ticker PIR.[4] In January 2020, Pier 1 had over 1,000 physical stores throughout the United States and Canada.[5] Pier 1 filed for Chapter 11 bankruptcy protection on February 17, 2020, and on May 19, 2020, announced it was asking the bankruptcy court to close all stores, due in large part to the COVID-19 pandemic.

In July 2020, Retail ECommerce Ventures (REV) bought the rights to Pier 1 and planned to revive the brand as an ecommerce store.[6]

At the end of October 2020, Pier 1 Imports closed its remaining stores and transferred its website to REV, which is doing business as Dallas-based Pier 1 Imports Online, Inc.

  1. ^ Shoulberg, Warren. "Pier 1's Choice Of CEO Is An Ominous Sign For A Retailer On Bankruptcy Watch". Forbes.
  2. ^ "Cheryl A Bachelder, Pier 1 Imports Inc.: Profile and Biography – Bloomberg Markets". Bloomberg News.
  3. ^ "Pir-10k_20190302.HTM". www.sec.gov. Retrieved 24 July 2020.[title missing]
  4. ^ "Investor Relations". Pier 1 Imports. Archived from the original on 31 December 2013. Retrieved 31 December 2013.
  5. ^ Tyko, Kelly (January 6, 2020). "Pier 1 Imports to close up to 450 stores, nearly half of its locations". USA Today.
  6. ^ Fickenscher, Lisa (2020-07-08). "Pier 1 Imports to become a web-only business after liquidating stores". New York Post. Retrieved 2020-08-25.