Pier 1 to close all stores

News

NATIONAL (AP) — Pier 1, the seller of wicker chairs and scented candles, said it will go out of business and permanently close all 540 of its stores, including in Champaign and Bloomington.

The Fort Worth, Texas-based company said Tuesday that it was unable to find a buyer for its business after filing for bankruptcy protection earlier this year. It will start going-out-of-business sales as soon as it can reopen stores that have been temporarily shut due to the coronavirus pandemic. Pier 1 has struggled to compete with online retailers like Wayfair and Amazon, which sell sofas and coffee tables at a lower price and are delivered to doorsteps quickly.

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