Photo byShutterstock
FT WORTH, TEXAS—Pier 1 announced on Monday that it has launchedChapter 11 bankruptcy proceedings and is pursuing a sale of thecompany. Several weeks ago it warned it would have to shutternearly half of its stores and rumors had been swirling that theretailer was set to file for bankruptcy.
The company is in talks with several potential buyers that couldacquire the retailer out of bankruptcy and pending court approvalqualified bids will be submitted by March 23.
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
*May exclude premium content
Already have an account?
Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
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.
