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Feb. 17, 2020, 12:57 p.m. EST

Pier 1 files for Chapter 11 bankruptcy, seeks buyer

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By Tim Rostan

Retailer Pier 1 has filed for Chapter 11 bankruptcy protection , reports the Wall Street Journal. The filing reportedly was made Monday, with U.S. stock markets closed for Presidents Day, in federal bankruptcy court in Richmond, Va. The Fort Worth, Texas-based home-décor chain /zigman2/quotes/203305412/composite PIR -13.33% had said a month ago that it was shuttering half its stores but might be unable to stave off bankruptcy. The company said in a news release that it would seek a buyer. Shares of Pier 1 are down more than 80% over the past year, and 44% since the start of 2020 alone, as compared with gains of 22% an 4.6% by the benchmark S&P 500 /zigman2/quotes/210599714/realtime SPX -4.41% over those spans.

/zigman2/quotes/203305412/composite
US : U.S.: NYSE
$ 0.20
-0.03 -13.33%
Volume: 58,438
April 1, 2020 3:56p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$958,028
Rev. per Employee
$89,333
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/zigman2/quotes/210599714/realtime
US : S&P US
2,470.50
-114.09 -4.41%
Volume: 3.67B
April 1, 2020 5:09p
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