- Single store in 1962
- Started by selling old beanbag chairs and love beads to hippies in California.
- Grew to offer just about anything for the home, from lounge chairs to curtains
- At its height, Pier 1 had more than 1,200 stores.
- Filed for Chapter 11 earlier this year in hopes of creating some financial stability
- Could not find a buyer
- Closing all 540 stores permanently
- Could not compete with on-line businesses
- COVID’s impact just intensified their dire financial woes.
Bankruptcy may be the only option not only for businesses but also individuals as we move forward.