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Pier 1 Imports will cut its corporate staff. Here’s what it means for the Fort Worth-based retailer

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Stores that have been staples of the American shopping tradition for decades are closing in large numbers. Take a closer look at the reasons why it’s so hard for retailers to stay open.
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Stores that have been staples of the American shopping tradition for decades are closing in large numbers. Take a closer look at the reasons why it’s so hard for retailers to stay open.

Pier 1 Imports plans on cutting its corporate staff following several quarters of poor performance and store closings.

The company, headquartered in Fort Worth, announced Wednesday the intention to reorganize its staff. According to the Dallas Morning News, the cuts will result in a net 20 fewer jobs. As of last year, Pier 1 had 870 corporate employees.

The cuts will not affect employees at its stores.

The home decor retailer has felt the same crunch as the rest of the brick-and-mortar retail market, having to compete with online retail. Pier 1 has roughly 987 stores in the U.S. and Canada, though it has been going through several rounds of store closings throughout the country in the past year.

According to Reuters, on March 14 Pier 1 hired Kirkland & Ellis LLP, a firm that specializes in debt restructuring. While Kirkland is known to work on bankruptcies and other major debt restructuring deals, it’s unclear if Pier 1 will file for bankruptcy.

As of Friday afternoon, representatives at Pier 1 did not respond to requests for comment.

Carla Jimenez covers breaking business news and commercial retail development. Born and raised in Euless, she took a detour in the Midwest for a few years, but she’s back in the land of football, barbecue and Dr Pepper.
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