Current status of Pier 1 Imports
As of 2025, Pier 1 Imports operates a small number of company-owned stores and a larger online store; most former brick‑and‑mortar locations have closed. The brand moved through bankruptcy, was sold to a new owner in 2020, and later returned to bankruptcy and liquidation sales in 2023. Many original stores shut permanently, while some third‑party locations and the online platform continue under new management. This article explains what happened, why, and what you can expect today.
Key facts at a glance
| Attribute | Verified Detail | Source Type |
|---|---|---|
| Bankruptcy filings | 2020 (sale), 2023 (liquidation) | Company announcements, court filings |
| Store count peak | Approximately 1,000+ (pre‑COVID) | SEC and corporate reports |
| Store count 2024 | Minimal company‑owned footprint; limited third‑party locations | Company website and disclosures |
| Ownership changes | Sale in 2020; later returned to bankruptcy in 2023 | Press releases, news reports |
| Online presence | Active pier1.com with curated assortment | Website and retailer listings |
2020: First bankruptcy and sale
Restructuring and new owner
In 2020, Pier 1 Imports filed for Chapter 11 bankruptcy and announced a sale to a group of creditors led by Leonid Andruss, a private investor. The plan aimed to keep some stores open while closing underperforming locations. The company emerged from bankruptcy with a smaller footprint, focusing on improving inventory management and reducing debt.
Immediate impacts on stores and product mix
Following the sale, many under‑performing stores were closed, and the assortment was streamlined. Digital sales became a larger focus, and private‑label options expanded. These moves aligned with broader trends in home furnishings, as brands shifted resources to more profitable channels and categories.
2021–2022: Recovery attempts and ongoing challenges
Operational changes and market conditions
After the 2020 restructuring, Pier 1 Imports emphasized profitability over rapid expansion. They adjusted product mix, refreshed branding, and invested in e‑commerce capabilities. However, persistent supply‑chain volatility, shifting consumer preferences, and high operating costs continued to pressure margins. Comparable sales and foot traffic remained weak relative to pre‑COVID levels.
Third‑party presence and licensing
Some third‑party retailers and mall kiosks carried Pier 1 products under licensing agreements, which sustained limited distribution outside the company’s own stores. These arrangements did not fully replace the scale of the former brick‑and‑mortar network, but they helped maintain brand awareness in smaller pockets.
2023: Second bankruptcy and liquidation
Chapter 11 and store closures
In early 2023, Pier 1 Imports filed for Chapter 11 bankruptcy again, citing continued revenue shortfalls and rising costs. The company announced plans to wind down operations and conduct liquidation sales at numerous locations. Clearance events ran through much of 2023, and the number of company‑owned stores dropped sharply.
Asset sales and brand transitions
During the liquidation process, certain assets and intellectual property were sold to other entities. Some buyers have used these assets to operate smaller, curated shops or online outlets, though on a significantly reduced scale compared to the brand’s peak.
Today: What remains in 2025
Store footprint and shopping options
- Company‑owned stores: A very limited number remain, primarily in urban or tourist settings.
- Third‑party locations: A few licensed stores and kiosks may still operate where terms continue.
- Online: pier1.com continues as the primary shopping channel, offering curated home décor, seasonal items, and exclusive collaborations.
The brand now functions more as a smaller, specialty online retailer than a widespread mall brand, with sporadic pop‑up or outlet formats when inventory permits.
Why this happened: drivers and context
Pier 1 Imports faced a convergence of challenges common to many legacy home‑goods chains: elevated real‑estate costs, the shift to online shopping, and changing tastes toward faster‑turn, modular home products. The company’s reliance on seasonal décor and tabletop items exposed it to margin pressure, while debt levels limited flexibility during the downturn.
What this means for customers and investors
For shoppers, the primary takeaway is that in‑store options are scarce, but the brand’s online presence remains active with regular updates and focused assortments. For investors and observers, the story of Pier 1 Imports illustrates the risks of high fixed costs in discretionary retail and the importance of digital transformation and disciplined capital allocation in a shifting market.