Pier One is Closing About Half of its Stores
Posted on Tuesday, January 14th, 2020 at 5:43 am
Pier 1 announced that it plans to close up to 450 of its stores. According to USA Today, that means nearly half of all Pier 1 stores will are closing. Bloomberg reported that Pier 1 could potentially end up filing for Chapter 11 bankruptcy.
Pier 1 provided information about this decision in a news release. Part of the news release said:
“In order to better align its business with the current operating environment, Pier 1 intends to reduce its store footprint by up to 450 locations. To reflect the revised footprint, the Company also plans to close certain distribution centers and reduce its corporate expenses. This includes a reduction in corporate headcount.”
Frugal shoppers might be able to take advantage of this situation. The first thing to do is to check the Pier 1 website to find out what special sales are being offered. They currently have a 60% sale on furniture. There is no information about how long this sale might last.
Furniture sales provide a frugal opportunity to replace a couch or chair that has worn out with a brand new one. Inexpensive furniture is very useful for young adults who are moving into an apartment for the first time.
In addition, Pier 1 is offering codes that can save shoppers 15%, 20%, or 25% on specific types of purchases from their website. The codes only last for a few days (but may be replaced by new ones).
If you have paper Pier 1 coupons, now is a good time to take them to your local Pier 1 store. Use them before the store closes! It is likely that many products will be offered at a discount, especially as stores get closer to their closing date. You can get a jump-start on holiday and birthday gifts by making your purchases now and storing them for later.