Pier 1 going out of business and closing 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. The Texas-based company said Tuesday that it was unable to find a buyer for its business afterearlier this year.
Pier 1 will start going-out-of-business sales as soon as it can reopen stores that have been temporarily shut due to the. The company joins other major retailers to since the disease erupted in the U.S. in March. Apparel maker as well as department store chains and have all declared bankruptcy this month.
Pier 1 traces to a single store in 1962 that sold beanbag chairs and love beads to hippies in San Mateo, California. It …continued .
[Source: CBS News]