FORT WORTH, Texas (CBSDFW.COM/AP) — 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 Fort Worth-based company said Tuesday that it was unable to find a buyer for its business after filing for bankruptcy protection earlier this year.
It will start going-out-of-business sales as soon as it can reopen stores that have been temporarily shut due to the coronavirus pandemic.
Pier 1 has struggled to compete with online retailers like Wayfair and Amazon, which sell sofas and coffee tables at a lower price and are delivered to doorsteps quickly.
(© Copyright 2020 CBS Broadcasting Inc. All Rights Reserved. The Associated Press contributed to this report.)
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