Pier 1 is going out of business and closing all 540 stores.

  • The Fort Worth, Texas- based company said Tuesday that it was unable to find a buyer for its business after filing for bankruptcy protection earlier this year.
  • Going-out-of-business sales will begin once stores reopen following the coronavirus pandemic.
  • Pier 1 traces to a single store in 1962 that sold beanbag chairs and love beads to hippies in San Mateo, California.
  • At its height, Pier 1 had more than 1,200 stores.