Pier 1 Imports Declare Chapter 11 Personal bankruptcy

Pier 1 Imports Declare Chapter 11 Personal bankruptcy

Pier 1 Imports Inc. the cool furnishings merchant that began offering bean bag chairs and like beads to hippies and later on became a home-furnishings huge with more than 1,000 stores, applied for bankruptcy Monday, a victim of altering customer tastes and an unforgiving retail environment.

The home furnishings chain filed for chapter 11 security Monday in the U.S. Insolvency Court in Richmond, Va., with strategies to offer the business, less than 2 months after saying it planned to close up to 450 shops and cut costs to …

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