They are calling it their “Ongoing Business Transformation” – a genteel way of saying that they are closing 450 stores nationwide as part of a Chapter 11 bankruptcy process.
On their website, they offer the following information:
"Pier 1 is pursuing a sale of the Company and is undertaking Chapter 11 proceedings to facilitate an orderly sale process. The Company fully expects to operate its business in the normal course during this process, and Pier 1’s continuing stores and online platform are open and operating. We remain focused on providing customers with unique, on-trend merchandise and an exceptional shopping experience. ”
According to Business Insider while not all 450 stores being closed have been revealed, about 270 are identified. Seven of those are in Arizona, although the store in Prescott is not on the list at this time. USA Today has a list of stores organized by state.
According to a Tweet by Pier 1, the best way to tell if your store is closing, is to see if the store is still listed on their website, as they explained to this shopper from North Carolina.
Thanks for reaching out. We'll still have several continuing stores in North Carolina. The best way to find them would be to visit our website and enter your zip code at the top of the page. We're also just a click away on https://t.co/niFB0YDm8B for your shopping needs!— Pier 1 (@pier1) February 5, 2020
In the meantime, the Pier 1 website is also still operating. So, if this is one of your favorite stores, be sure to head on in and grab your best bargains now!