Pier 1 Imports files for bankruptcy and is closing almost half its stores

Valley North Mall photo

Retailer Pier 1 Imports filed for Chapter 11 bankruptcy protection Monday and announced it is closing almost half its stores this year.

A list of 331 stores targeted for closure in the United States does not include the Pier 1 Imports in Wenatchee’s Valley North Mall. In Washington state, stores in Everett, Federal Way, Redmond, Seattle and Tacoma are slated for closure.

Pier 1 announced last April it would be closing a smaller number of its stores, and the list announced Monday included the stores identified at that time.

The company currently has almost 1,000 stores in the United States and Canada.

Pier 1 CEO Robert Riesbeck said in a statement they are looking for a buyer of the company and the bankruptcy filing and store closures should help move that process along.