Pier 1 Imports, With 14 CT Stores, Closing Up To 450 Locations

CONNECTICUT — Pier 1 Imports, which has 14 locations in Connecticut, is closing hundreds of stores, the company announced Monday. The retail chain said up to 450 locations — about half of its total — would be closed to "better align its business with the current operating environment."

The company plans to close certain distribution centers and lower its corporate spending, as well as lay off workers at the corporate level.

Pier 1 is using a third-party liquidator to help with the closings, noting that its lenders signed off on its plan to reduce its brick-and-mortar footprint.

Robert Riesbeck, CEO and CFO of the retail chain thanked store workers for their hard work and commitment to serving customers.

"Although decisions that impact our associates are never easy, reducing the number of our brick-and-mortar locations is a necessary business decision," he said in a statement.

The planned closures come as the company faces smaller foot traffic.

Net sales for the third quarter plummeted more than 13 percent to $358.4 million. That number was $413.2 million in the same quarter for the previous fiscal year. Company comparable sales fell more than 11 percent compared to same period a year ago.

The company also said there will be layoffs at the corporate level.

Here are the locations in Connecticut:

Last fall, Pier 1 announced up to 145 store closings were possible in coming months.

Founded with a single location in 1962, Pier 1 Imports currently operates 936 stores in the United States.

Patch has reached out to the company for a list of stores closing and will update when we hear back.

Written by Dan Hampton, Patch Staff