Pier 1 Imports Inc. has closed its Overland Park store as the furniture and decor retail company goes out of business nationwide.
Located at 7076 W. 105th St. in Overland Park, this store was the last Pier 1 location in Johnson County to close during the wind-down of retail locations. Pier 1 Imports closed its Shawnee store earlier this year.
The company announced in May it had filed for bankruptcy and would begin “an orderly wind-down” of retail operations “as soon as reasonably possible.” Reasons for closing included complications from an already challenging retail environment, coupled with the uncertainties from the COVID-19 pandemic.
Pier 1 company officials did seek alternatives to business closure, such as identifying a potential buyer, according to a press release, but “Ultimately, due to the combination of a challenging retail environment and the new reality and uncertainty of a post-COVID world, the Company and its advisors determined that an orderly wind-down is the best way to maximize the value of Pier 1’s assets.”
Robert Riesbeck, chief executive officer and chief financial officer for Pier 1 Imports, said the company is grateful for its customers and dedicated, hardworking associates, and vendors for supporting the company for decades.
“We deeply value our associates, customers, business partners and the communities in which we operate, and this is not the outcome we expected or hoped to achieve,” Riesbeck said. “This decision follows months of working to identify a buyer who would continue to operate our business going forward. Unfortunately, the challenging retail environment has been significantly compounded by the profound impact of COVID-19, hindering our ability to secure such a buyer and requiring us to wind down.”
Store closing efforts and liquidation sales should fall in line with COVID-19 health and safety guidelines from local government and health officials, according to the press release. Customers can continue shopping online at pier1.com.