LOS ANGELES (CBSLA) – Pier 1 Imports is set to shutter nearly half of its stores as the home goods retailer reportedly lurches closer to bankruptcy.

In a statement Monday, Pier 1 said it will close up to 450 stores “in order to better align its business with the current operating environment.”

The chain – with more than 900 stores across the U.S., including more than 20 locations in Southern California – will also close distribution centers and trim its corporate workforce.

Pier 1 stock, which traded at $300 a share in 2015, traded around the $5 mark as of Monday afternoon.

(Photo by Joe Raedle/Getty Images)

  1. mandyfard says:

    Sad to see such big losses of jobs. I wish there was a way to reach out to the people who were laid off and let them know of all the resources that are available to them starting from the job search advice and resources available at the library to local vocational schools and professional career coaches and resume writers (i.e.: https://www.market-connections.net) so that they would know that help is available for every budget and every career plan. Being laid off is never a pleasant experience.

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