(New York, NY) -- Pier 1 Imports is reportedly getting ready to file for bankruptcy and could close up to 450 stores. Bloomberg reports the home furnishings retailer plans to get rid of about 40 percent of its headquarters staff and has drafted a bankruptcy plan.
In a release yesterday Pier 1 said: In order to better align its business with the current operating environment, Pier 1 intends to reduce its store footprint by up to 450 locations. To reflect the revised store footprint, the Company also plans to close certain distribution centers and reduce its corporate expenses. This includes a reduction in corporate headcount.
In order to maintain the same high standards customers have come to expect and ensure a seamless experience for customers at these locations, the Company is utilizing the services of a third-party liquidator to help manage the store closings.
Pier 1 Imports currently operates stores in Dutchess and Ulster counties.
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