FORT WORTH, Texas (WJHL) — Home decor and furniture retailer Pier 1 may close hundreds of stores.
The company announced on Monday that it intends to shut down up to 450 of its 936 locations “in order to better align its business with the current operating environment.”
Pier 1 did not reveal which locations may close.
“Although decisions that impact our associates are never easy, reducing the number of our brick-and-mortar locations is a necessary business decision,” said CEO and CFO Robert Riesbeck. “We thank our team of hard-working associates for their commitment to Pier 1 and to serving our customers.”
The company also plans to close some distribution centers and reduce corporate expenses, including a reduction in corporate employees.