{"id":23623,"date":"2020-07-09T01:17:00","date_gmt":"2020-07-08T22:17:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/pier-1-imports-to-become-a-web-only-business-after-liquidating-stores\/"},"modified":"2020-07-09T01:17:00","modified_gmt":"2020-07-08T22:17:00","slug":"pier-1-imports-to-become-a-web-only-business-after-liquidating-stores","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/pier-1-imports-to-become-a-web-only-business-after-liquidating-stores\/","title":{"rendered":"#Pier 1 Imports to become a web-only business after liquidating stores"},"content":{"rendered":"

“#Pier 1 Imports to become a web-only business after liquidating stores<\/strong>”<\/p>\n

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July 8, 2020 |<\/span> 6:17pm |<\/span> Updated July 8, 2020 | 6:42pm<\/span><\/p>\n

\n Pier 1 Imports isn\u2019t dead \u2014 it\u2019s just heading to the web.<\/p>\n

The bankrupt home goods retailer \u2014 which revealed in May it was closing all of its 540 stores nationwide after 58 years in business \u2014 has sold the rights to its brand for $20 million to Retail ECommerce Ventures, a firm that bought the Dressbarn brand last year.<\/p>\n

The licensing firm, which focuses on distressed assets, won Pier 1 Imports in a bankruptcy auction on Wednesday, its principal Tai Lopez told The Post. When going-out-of-business sales at stores wrap up in October, the company will strictly be an e-commerce business.<\/p>\n

Founded in 1962 in San Mateo, Calif., under the moniker Cost Plus Imports, Pier 1 became a key shopping destination for wicker baskets, candles and glassware. But in recent years it victim to rising competition with the likes of Target, Wayfair and Amazon.<\/p>\n

Pier 1 operated 936 stores at the beginning of the year. When it filed for bankruptcy protection in February, Pier 1 had hoped that closing more than 400 locations would help it get profitable again.<\/p>\n

In March, however, the coronavirus forced Pier 1 to shutter its stores and hurt its efforts to find a buyer for the company.\u00a0Many of the stores began reopening in May \u2014 only to sell everything off.<\/p>\n

Sales were so brisk since the reopenings that the chain was \u201cblowing through Black Friday levels,\u201d Chief Executive Robert Riesbeck said during a court hearing.\n <\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/div>\n

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Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

“#Pier 1 Imports to become a web-only business after liquidating stores” July 8, 2020 | 6:17pm | Updated July 8, 2020 | 6:42pm Pier 1 Imports isn\u2019t dead \u2014 it\u2019s just heading to the web. The bankrupt home goods retailer \u2014 which revealed in May it was closing all of its 540 stores nationwide after…<\/p>\n","protected":false},"author":1,"featured_media":23624,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[35202],"class_list":["post-23623","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-pier-1-imports-to-become-a-web-only-business-after-liquidating-stores"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/23623","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=23623"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/23623\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/23624"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=23623"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=23623"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=23623"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}