Pier 1 to close Katy-area stores as company prepares to go out of business

Pier 1 Imports Inc. announced in a May 19 press release that the company is preparing to go out of business “as soon as reasonably possible” after failing to secure a buyer that would have allowed it to continue operating.

Pier 1 has filed a motion seeking bankruptcy court approval, per the release, and plans to sell its inventory and remaining assets through this court process.

The Katy area has two locations at 1172 Fry Road, Houston, and 5460 W. Grand Parkway S., Richmond. They, along with all other Pier 1 brick-and-mortar stores across the U.S., temporarily closed March 22 due to the coronavirus, according to a March 22 press release.

Under a wind-down plan announced in the May 19 press release, Pier 1 stores will reopen in compliance with local COVID-19 guidelines and then close permanently after they sell off their remaining inventory starting on an unknown date.

Orders from Pier 1’s website are still being processed and filled, per the May 19 release.

“Unfortunately, the challenging retail environment has been significantly compounded by the profound impact of COVID-19, hindering our ability to secure such a buyer and requiring us to wind down,” Pier 1 Chief Executive Officer Robert Riesbeck said in the May 19 news release.