pier 1

Retail
Pier 1 Bankruptcy Identifies Unsecured Creditors

Pier 1 entered into Chapter 11 protection in the U.S. Bankruptcy Court for the Eastern District of Virginia on February 17 to facilitate a Plan Support Agreement with a majority of its term loan lenders, listing its major unsecured creditors as it did so.

Retail
Pier 1 Board Initiates Reverse Stock Split

At Pier 1 Imports’ 2019 annual meeting of shareholders held on June 19, shareholders authorized a reverse stock split at a ratio of 1-for-5, 1-for-10 or 1-for-20, and a reduction in the number of authorized shares of common stock by a corresponding ratio.

Financials
Pier 1 Stumbles Through Q2

Pier 1 Imports launched a new strategic plan in the second quarter but customers didn’t jump on board, as the retailer posted a deeper net loss and a comparable sales decline. 

Financials
Pier 1 Launches Strategic Plan After Weak Q4

After a distressing fourth quarter in which earnings and comparable sales fell significantly, Pier 1 Imports has formed a new strategic plan that will pressure financial results short term but lead to gains down the road, the company asserted.

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