Note:
I have covered Pier 1 Imports (PIR) previously, so investors should view this as an update to my earlier article on the company.
Last month, I discussed my expectations for ailing home decoration retailer Pier 1 Imports to file for bankruptcy "in the not too distant future to successfully execute on announced store closures and secure debtor-in-possession financing" after the company reported another set of disappointing quarterly results.
Photo: Pier 1 store closing at Rivers Avenue in North Charleston - Source: postandcourier.com
On Monday, Pier 1 Imports announced that "