Pier 1 is closing all stores because of coronavirus — including last SLO County location
Pier 1 just couldn’t make it.
After an already difficult year, Pier 1 Imports announced Tuesday that all of its stores will shut their doors for good because of the coronavirus pandemic.
“We are grateful to our dedicated and hardworking associates, millions of customers and committed vendors who have collectively supported Pier 1 for decades,” Pier 1 CEO and Chief Financial Officer Robert Riesbeck said in a news release. “We deeply value our associates, customers, business partners and the communities in which we operate, and this is not the outcome we expected or hoped to achieve.”
Riesbeck said the decision came after months of unsuccessful attempts to identify a buyer who could purchase the ailing company.
“Unfortunately, the challenging retail environment has been significantly compounded by the profound impact of COVID-19, hindering our ability to secure such a buyer and requiring us to wind down,” he said.
The company was already on shaky ground earlier this year.
In January, to stave off bankruptcy, the company announced plans to shutter 450 of its stores, including the location in Arroyo Grande. The company later filed for Chapter 11 in February.
But the coronavirus pandemic and its related business closures were the final nail in the coffin for the almost 60-year-old home furnishings company.
Now all of its remaining stores will also close, including the Paso Robles store on Theater Drive. That shop was the last location remaining in San Luis Obispo County.
In a statement on the business’ website, Pier 1 said that it has filed a motion seeking court approval to “begin an orderly wind-down of the company’s retail operations as soon as reasonably possible” once regions begin to emerge from coronavirus mandated closures.
Liquidation sales will begin at stores once they’re local governments allow retail businesses reopened.
According to the statement, store closing dates will vary by location but the company “expects to continue serving customers in it stores through early fall 2020.”
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