COVID-19 continues to claim retail victims. Just before the pandemic began to spread across the US, Pier 1 filed for Chapter 11 bankruptcy. At the time of the filing, the retailer said it was in talks with several potential buyers that could acquire it out of bankruptcy.
In a new filing the company has announced those talks failed and that it is going out of business. All 540 of its stores will close following liquidation sales.
Separately, another struggling retailer, JCPenney, released more information about its bankruptcy in a Monday filing. It plans to close 242 of its stores out of a total of 846.
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