April 03, 2020
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Pier 1 closing Augusta store as retailer files for bankruptcy

Julie Jacobson | AP
Julie Jacobson | AP
A customer steps out of a Pier 1 Imports store which was having a closeout sale Monday in Larchmont, New York. Home goods retailer Pier 1 Imports Inc. filed for bankruptcy protection Monday after years of sliding sales. The Fort Worth, Texas-based company, which was founded in 1962, has recently struggled with increased competition from online retailers such as Wayfair.

Pier 1 Imports, a trendy home goods retailer, is closing hundreds of stores nationwide — including one in Maine — as the company enters into bankruptcy proceedings.

The retailer announced last month that it planned to close up to 450 of its 963 stores, according to The New York Times. Among those locations set to close is Pier 1’s Augusta location on Stephen King Drive, according to a list released by the retailer. Another 20 locations across New England are slated for closure as well.

Pier 1’s South Portland location, at The Maine Mall, is not among those planned for closure.

On Monday, Pier 1 announced it had filed for bankruptcy, The New York Times reports. It is the latest brick-and-mortar retailer — such as Macy’s and Sears, both which have closed locations at the Bangor Mall in recent years — to face hard times as more consumers look to online retailers, such as Amazon and Wayfair.

Pier 1 was founded in 1962 in San Mateo, California.

 


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