Pier 1 Imports is the latest retail victim of the coronavirus pandemic, announcing on Tuesday it is seeking bankruptcy court approval to start an "orderly wind-down" of its operations.
The retailer was struggling before the pandemic; the company filed for Chapter 11 bankruptcy protection in February, one month after saying it planned on closing up to 450 locations. Pier 1 has about 541 U.S. stores, and will hold liquidation sales once they can reopen.
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