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Pier 1 plans to close up to 25 stores

Pier 1 Imports, the biggest U.S. retailer of imported furniture, will close 20 to 25 stories before the end of the year, it said Wednesday in a regulatory filing.

The Fort Worth-based company will also eliminate "excess" distribution center space, it said the the filing.

The closures will cost up to $3 million and the lease terminations will be as much as $5 million, according to the filing.

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