BRISTOL, Tenn. — Though many retailers at The Pinnacle have reopened their doors to customers, Pier 1 Imports is poised to close permanently in the near future.
The Fort Worth-based store chain that sells home accessories, decorations and wicker furniture originally announced in January that it planned to close nearly half of its stores.
The chain then declared bankruptcy in February after roughly 58 years of business.
On Tuesday the company issued a press release stating that it is seeking approval from the bankruptcy court to close all its retail operations as soon as reasonably possible.
Robert Riesbeck, CEO and CFO of Pier 1, states in the release that the business originally intended to find a buyer that would allow operations to continue. The impact of the COVID-19 pandemic, however, made it difficult to find a buyer.
Along with the closures, the company plans to sell its inventory and remaining assets through the court-supervised process.
The release states the company intends to initiate store closing efforts and liquidation sales once store locations can reopen.
There is no indication of when and if The Pinnacle store will reopen. Media relations for Pier 1 did not respond to a request for information. The Pier 1 Imports website is still accepting orders online.
As of Thursday, roughly 30 of The Pinnacle’s retailers were open for regular business, three were open for curbside service and all restaurants were reopened, according to The Pinnacle’s official Facebook.
Representatives of The Pinnacle could not be reached for comment.