Pier 1 files for bankruptcy protection, closing all Canadian stores
Hamilton, Halton, Niagara and area news from CHCH – Hamilton, Halton, and Niagara news..
Home goods retailer Pier 1 Imports Inc. says it has filed for bankruptcy protection in the United States and plans to close all Canadian stores as part of its restructuring process.
The Texas-based company has been struggling with increased competition from budget-friendly online retailers such as Wayfair. The company last month announced it would close 450 stores, including all its Canadian locations.
Pier 1’s Canadian website now directs customers to a short statement announcing the closures and thanks them for their loyalty. The company is also commencing creditor protection proceedings in Canada.
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Source : Chantel Grillo Link