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Pier 1 Considers Bid That Would Close Over 800 Stores

  • CSC Generation bid comes during pause in bankruptcy case
  • With liquidation sales halted, lenders consider taking control
Photographer: Luke Sharrett/Bloomberg

Pier 1 Imports Inc. is expected to receive a revised purchase offer in bankruptcy that would keep open fewer than 100 of the company’s 900-plus locations, according to people with knowledge of the developments.

The bid, from a company called CSC Generation, comes after the retailer’s bankruptcy court process was paused while stores are shuttered in accordance with coronavirus containment measures. Bloomberg previously reported that Pier 1 was weighing a bid that would keep a small portion of its locations open.