Pier 1 Files For Bankruptcy, Prepares For Sale

Fort Worth, Texas-based home goods retailer Pier 1 has filed for bankruptcy.

According to Business Insider, the company is filing for Chapter 11 bankruptcy.

CEO and CFO Robert Riesbeck said Pier 1 is "pleased with the initial interest as we engage in discussions with potential buyers." In a press release, the company announced its intent to keep its stores and website "open and operating" throughout the bankruptcy.

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