Pier 1 Imports
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. In January 2020, Pier 1 had over 1,000 physical stores throughout the United States and Canada. 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.
| Company type | Public |
|---|---|
| NYSE: PIR (1970–2020) | |
| Industry | E-commerce, retail |
| Founded | 1962 (as Cost Plus Imports) San Mateo, California, U.S. |
| Defunct | October 31, 2020 (as a physical store) |
| Fate | Chapter 11 bankruptcy liquidation, in response to the COVID-19 pandemic |
| Successor | Retail ECommerce Ventures (d.b.a. as Pier 1 Imports Online, Inc.) |
| Headquarters | Fort Worth, Texas, U.S. |
Number of locations | >1,000 (at peak in January 2020) |
Area served | United States Canada |
Key people | Robert Riesbeck, CEO Cheryl Bachelder, Interim CEO |
| Products | Furniture |
| Revenue | US$1.553 billion (FY2019) |
| US$ −188.1 million (FY2019) | |
| US$ −198.8 million (FY2019) | |
| Total assets | US$ 656.3 million (FY2019) |
| Total equity | US$ 89.53 million (FY2019) |
| Owner | Retail ECommerce Ventures |
Number of employees | 18,000 (March 2019) |
| Website | www |
In July 2020, Retail ECommerce Ventures (REV) bought the rights to Pier 1 and planned to revive the brand as an ecommerce store.
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.