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Pier 1 Files for Chapter 11 Bankruptcy

The company is in talks with several potential buyers that could acquire the retailer out of bankruptcy.

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FT WORTH, TEXAS—Pier 1 announced on Monday that it has launched Chapter 11 bankruptcy proceedings and is pursuing a sale of the company. Several weeks ago it warned it would have to shutter nearly half of its stores and rumors had been swirling that the retailer was set to file for bankruptcy. 

The company is in talks with several potential buyers that could acquire the retailer out of bankruptcy and pending court approval qualified bids will be submitted by March 23.

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Erika Morphy

Erika Morphy

Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.

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