Pier 1 Imports plans to close more stores

Business

Pier 1 Imports is planning to close over 50 stores.

Things aren’t getting any better for Pier 1 Imports.

The home decor and furniture store announced Thursday it’s closing 12 more stores this year.

In April, the company announced it was closing 45 locations.

In the first quarter pier 1 posted a loss of $81.7-million, which was substantially larger than the 28 million dollar loss it posted in the same quarter a year ago.

The interim ceo says if the company’s turnaround plan doesn’t work, it could close even more stores.

Pier 1 has 967 stores remaining

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