A journalist called the store Pier 1 Imports located at 1981 N. Federal Highway in Pompano Beach, and an answering machine replied that the store was closed, he noted. sun-sentinel.com.

Later -in another call- an employee answered who indicated that all the Inventory is between 40% and 60%He added that they had not yet announced a definitive date for the closure of the old company.

According to the Yelp.com review page, a store Pier 1 Imports, located at 3470 S. University Drive in Davie closed a month ago.

The Fort Worth, Texas-based company said it will seek sell the companyThe deadline for submitting bids is Winners will be announced in March.

A Pier 1 spokesman said the lenders committed about $256 million in debt financing for the company to continue operating, while it reorganizes under Chapter 11 of the federal code of bankruptcy.

What about the retail chains in the US?

Bebankruptcy declaration de Pier 1 Imports comes as several large retail chains in the United States have seen their sales plummet due to online retailers, wholesalers y discount stores.

Some well-known retailers have been forced to close stores for the same reasons as Pier 1 Imports, including Sears, Kmart, Payless, Victoria's Secret, Bed Bath & Beyond, Barnes & Noble, JC Penney and Macy's.

Pier 1's story

Pier 1 was founded in 1962 in the state of California, later he developed his brand of incense sales, chairs and love beads.

at its best had more than 1,000 stores, most of which were located in shopping malls, later faced competition from online retailers like Wayfair and Amazon and discount stores like Home Goods.

In 2019, its profits fell 18% when compared to 2015 sales.

It should be noted that numerous stores are still open in South Florida, some are located in Coral Springs, Fort Lauderdale, Plantation, Pembroke Pines. Wellington, Boca Raton, Boynton Beach, West Palm Beach, Palm Beach Gardens, Delray Beach, Aventura, Miami and Coral Gables.


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