After many efforts to stay afloat, Fort Worth-based Pier I Imports has thrown in the embroidered towel and filed for Chapter 11 bankruptcy.
The home furnishings chain said in a release that it filed for bankruptcy in the U.S. Bankruptcy Court in Richmond, Virginia, and is officially for sale. The company is entertaining offers from multiple potential buyers who may acquire them out of bankruptcy.
Meanwhile, they'll close up to 450 stores, including all of its stores in Canada.
A company spokesperson would not confirm the closures, but USA Today magically has a list of 300 stores set to shutter, including 20 stores across Texas.
That includes 5 in the DFW area as follows:
- Amarillo: 8511 West Interstate Highway 40
- Arlington: 4145 South Cooper St.
- Arlington: 780 Road to Six Flags St. East.
- Burleson: 1107 N Burleson Blvd.
- College Station: 1424 Texas Ave. South
- Denton: 1800 S. Loop 288.
- El Paso: 8889 Gateway Blvd. W.
- Galveston: 6228 Broadway St.
- Georgetown: 1019 West University Ave.
- Houston: 110 Meyerland Plaza Mall.
- Houston: 17725 Tomball Parkway
- Houston: 2501 Rice Blvd.
- Houston: 6815 Highway 6 N.
- Irving: 7805 N MacArthur Blvd.
- Lewisville: 500 E. Round Grove Road
- Longview: 307 West Loop 281
- Pasadena: 5660 Fairmont Parkway
- Pearland: 3113 Silverlake Village Drive
- San Antonio: 11625 Bandera Road
- Wichita Falls: 4400 Kemp Blvd.
According to CNBC, they're also closing two distribution centers.
The closures will be staggered over the next few months, with some stores such as the location in Irving, closing at the end of February, and others closing later in the spring. Sales have already started at all of the stores that are closing.