pier 1 imports canada

Pier 1 Imports officially files for bankruptcy and will close all stores in Canada

Pier 1 Imports is officially closing down all of its locations in Canada after filing for bankruptcy on Monday.

The Texas-based home furnishings company has already closed 450+ locations in Canada following a loss of $59 million during its last quarter.

The company currently has more than 500 stores open across North America. It hopes to pursue a sale of its remaining U.S. operations.

Pier 1 CEO Robert Riesbeck said that filing for bankruptcy is "intended to provide Pier 1 with additional time and financial flexibility as we now work to unlock additional value for our stakeholders through a sale."

With major online homeware companies like Amazon capturing a greater share of the market, traditional brick-and-mortar retailers are finding it hard to keep up.

Rival home goods company Bed Bath & Beyond is also struggling, having closed 41 stores across the U.S. and Canada in January.

Lead photo by

Wikimedia Commons

Latest Videos

Join the conversation Load comments

Latest in News

Someone just spotted one of the weirdest looking fish washed up in Canada

Bear in Calgary caught eating Halloween pumpkins while residents were sleeping

Vancouver woman shoved out of bus after spitting on a fellow passenger

Air Canada and WestJet bicker over plans to refund airline tickets

Poppy donation boxes in Canada will soon take credit cards

COVID internment camps in Canada don't exist despite what you might have heard

Canada won't be having a snap election this fall

Someone is setting fire to toilet paper at Walmart stores in Canada