Pier 1 Imports, Which Has 27 NJ Stores, Closing Up To 450 Sites

NEW JERSEY — Pier 1 Imports, which has 27 locations on New Jersey, 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. It's not known which stores will close just yet.

The announcement comes as dozens of chain stores were expected to close in New Jersey by 2020. Read more: Dozens Of NJ Chain Stores Close In 2019

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 current locations in New Jersey:

• Bridgewater - 385 U S Hwy 202-206
• Cape May Court House - 5 Court House South Dennis
• Cherry Hill - 801 Haddonfield Road
• Clifton - 364 Route 3 West
• Deptford - 1500 N. Almonesson Rd. Ste. 5
• East Brunswick - 615 Route 18 South
• East Hanover - 375 Rte 10
• Edgewater - 11 The Promenade
• Flanders - 30 International Dr South
• Flemington - 39 Reaville Ave
• Freehold - 4331 Route 9 Unit 1
• Hamilton - 150 Marketplace Blvd
• Holmdel - 2130 State Route 35
• Howell - 4759 Route 9 North
• Jersey City - 125 18Th Street
• Manahawkin - 601 Washington Ave
• Millville - 2148 North 2nd Street
• Mount Laurel - 1100 Nixon Dr
• Ocean - 1100 Highway 35
• Paramus - 723 Rte 17 S
• Princeton - 3512 Brunswick Pike
• Riverdale - 56 State Route 23 North
• Rockaway - 395 Mount Hope Avenue
• Somers Point - 57 Bethel Road
• Toms River - 621 Bay Ave
• Wall - 2410 Highway 35
• Watchung - 1515 Route 22 West

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.