PIR - Pier 1 Imports Launches Major Downsizing Initiative Warns Of Potential Debt Default
Note:
I have covered Pier 1 Imports (PIR) previously, so investors should view this as an update to my earlier article on the company.
After just another set of disappointing quarterly results, ailing home decoration retailer Pier 1 Import's new management has apparently decided to take some decisive action:
In order to better align its business with the current operating environment, Pier 1 intends to reduce its store footprint by up to 450 locations. To reflect the revised store footprint, the Company also plans to close certain distribution centers and reduce its