Pier 1 Closing All Stores Nationwide, Including Sioux Falls Location
Another day, another big retail chain in trouble in America.
But unlike other companies that have yet to reveal the long-term fate of their Sioux Falls locations, Pier 1 is shutting down here and all across the country.
ABC News is reporting that the Fort Worth, Texas-based company will permanently close all 540 of its stores, including the Sioux Falls location on West 49th Street.
Pier 1 made the move after it was unable to find a buyer after filing for bankruptcy three months ago.
At that time, the Sioux Falls store was not on the list of the 450 locations that were to be shuttered.
That was before the Coronavirus outbreak.
The company plans to start going-out-of-business sales as soon as it can reopen stores that have been temporarily shut due to COVID-19.
Pier 1 began a single store in San Mateo, California in 1962 and grew to as many as 1,200 stores at one point.
The news comes on the heels of similar bankruptcy announcements Gordmans parent company and JC Penney. Each has plans to re-open a portion of their stores but neither has addressed the long-range outlook for their Sioux Falls locations.