February 5, 2009

Pier 1 to cut staff, may close 125 stores

Filed under: Retail,US — 7macaw @ 10:36 am
Tags: , , ,

Pier 1 Imports plans to cut about 10 percent of the full time jobs at its Fort Worth, TX headquarters, distribution centers and field administration offices.

The company, which sells home furnishings and gifts, also plans to close a distribution center in Illinois, and it may close up to 125 “underperforming” stores. Pier 1 says it is negotiating with landlords to reduce rental expenses; “early termination” may be necessary if those discussions are unsuccessful.

Source: WFAA TV

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