Pier 1 Imports, With 28 VA Stores, Closing Up To 450 Sites

VIRGINIA — Home accessories chain Pier 1 Imports said Monday it would close hundreds of stores around the country. There's no list yet of the locations to close, or information on the fate of the retailer's estimated 28 Virginia sites.

The company said up to 450 locations — about half of its total — would be closed to "better align its business with the current operating environment."

Pier 1 plans to close certain distribution centers and lower its corporate spending, as well as lay off workers at the corporate level. The company 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.

The Virginia locations Pier 1 operates include stores in Duke Street-Alexandria, Falls Church, Potomac Yards-Alexandria, Rosslyn, Woodbridge, Fairfax, Manassas, Sterling, Stafford, Gainesville, Leesburg, Fredericksburg, Winchester, Colonial Heights, Glen Allen, Short Pump, Midlothian in Richmond, Charlottesville, Midlothian, two stores in Virginia Beach, two in Chesapeake, Hampton, Williamsburg and Newport News.

Related: NoVA, DC Store Closings By Chain Retailers In 2019

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.

Patch editor Dan Hampton contributed to this report.