Pier 1 officially going out of business

Business

(CNN) — Pier 1 is officially going out of business.

Pier 1 Imports is closing-up shop after a court approved its bankruptcy application.

That now allows Pier 1 to liquidate its retail operations in about 500 stores across the country, once they can re-open in the wake of pandemic.

Pier 1 had more than 1,000 at one point, selling home goods like furniture, pillows and decor.

It has struggled however because of online competition and big-box chains.

Pier one aims to have all its stores permanently shut down by October.

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