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Pier 1 Imports, Inc., is an online retailer and former Fort Worth, Texas -based retail chain specializing in imported home furnishings and decor, particularly furniture, table-top items, decorative accessories, and seasonal decor.
It wasn't too long ago that Pier 1 Imports (NYS: PIR) looked like a wreck. In 2009, it was on the brink of bankruptcy. Many investors gave it up for dead.So it's been a pleasant surprise to hear ...
Across the United States, a large number of local stores and store chains that started between the 1920s and 1950s have become defunct since the late 1960s, when many chains were either consolidated or liquidated. Some may have been lost due to mergers, while others were affected by a phenomenon of large store closings in the 2010s known as the retail apocalypse .
By 1993, the center was over 80 percent vacant; among the major stores that had closed were Oshman's Sporting Goods, Foot Locker, and Pier One Imports. In response to this, Hahn proposed to replace the center with outlet stores, but was unsuccessful in negotiating with any prospective retailers.
The popular home decor retailer has struggled to stay afloat after a less-than-ideal quarter and sinking stock.
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