Pier 1, already closing stores throughout Hawaii, files for Chapter 11 bankruptcy protection

Pier 1 Imports, which was already in the process of closing hundreds of stores, on Monday became the latest U.S. retailer to seek Chapter 11 bankruptcy protection. Hawaii has seven Pier 1 stores that are either already shuttered or closing soon. Fort Worth, Texas-based Pier 1 said in a statement that it intends to put itself up for sale as part of the bankruptcy process and that it already has the approval of its lenders to do so. The move comes just weeks after Pier 1 said it would close half…