Danbury’s Pier 1 To Sell Off Inventory Then Close For Good
Back in January we told you that Pier 1 Imports was declaring bankruptcy and would be closing half of it's Connecticut stores including Danbury. Now the chain has announced that all their stores will be closing.
Earlier this year Pier 1 Imports said it would be closing six of their fourteen Connecticut stores, and Danbury was one of the stores on the chopping block. Now they have made it official and will be holding a final going out of business sale.
Midway through their closing sale, Pier 1 had to shut down due to the COVID-19 pandemic. Now the word is out that all their stores will re-open, but they will only be opening up again for a short time to sell off all their inventory. The company that operates some 541 stores in the U.S. announced Tuesday that it will close down all of it's stores once the inventory has been liquidated.
According to multiple sources including connecticut.news12.com, here's the official word from a company press release:
The Company intends to sell its inventory and remaining assets, including its intellectual property and e-commerce business, through the court-supervised process.
The chain now joins other retailers like J.Crew, J.C. Penny, and Neiman Marcus who have all filed for bankruptcy protection mostly due to poor sales, and having to close during the COVID-19 Pandemic.
Pier 1 has been struggling in recent years and have seen sales fallen as more people continue to shop online.
Pier 1's store in Danbury is located at 1 Sugar Hollow Road, right across from the Danbury Fair Mall.