PIER 1 closing 450 stores…

Pier 1 Imports executives said Monday the chain will close up to 450 stores in a bid to restructure its business, shortly after shares plunged on a report that the company was considering bankruptcy.The company said that a “reduction in corporate headcount” would accompany the store closures, but did not provide specific details on how…

PIER 1 closing 450 stores…

Pier 1 Imports executives said Monday the chain will close up to 450 stores in a bid to restructure its business, shortly after shares plunged on a report that the company was considering bankruptcy.The company said that a “reduction in corporate headcount” would accompany the store closures, but did not provide specific details on how many layoffs are expected. Pier 1 will also shutter distribution centers as part of its cost-cutting measures.TickerSecurityLastChangeChange %PIRPIER 1 IMPORTS5.17-1.05-16.93%“Although decisions that impact our associates are never easy, reducing the number of our brick-and-mortar locations is a necessary bus
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