The American chain of stores Pier 1 Imports, specialist in furniture of foreign origin which had declared bankruptcy in February, announced Tuesday to want to close its 540 stores and to cease its commercial activities.
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The Fort Worth, Texas-based company near Dallas had been looking for a buyer since February 18 when it filed for bankruptcy. But the coronavirus pandemic and the containment measures were right in his hopes.
" The already complicated situation of shops has worsened considerably because of the Covid-19 ", deplores Robert Riesbeck, executive and financial director, in a press release. The crisis " prevented us from finding a buyer and forces us to lower the curtain, " he concludes.
The furniture and decoration brand, which continued to sell its products online during confinement, plans to liquidate its stock as soon as it can reopen its stores. It will then close its doors permanently.
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Founded in 1962 in California, Pier 1 Imports had suffered in recent years from competition from online commerce. Between 2019 and 2020, the brand had seen its number of stores in North America almost halved. The company is independent from the French brand Pier Import.