Asheville News

Pier 1 Imports to close stores: Will Asheville outlet be affected?

Jason Sandford February 5, 2009

Jason Sandford

Jason Sandford is a reporter, writer, blogger and photographer interested in all things Asheville.

Looks like Pier 1 Imports is going down. Will the Asheville and Hendersonville stores close? Does anyone know?

Here’s one of several stories making the rounds, this one from BusinessWeek:

Amid a tough economy and continued housing slump, home furnishings chain Pier 1 Imports Inc. said Tuesday it is trying to lower its store rents, will cut staff and close an Illinois distribution center in an effort to trim costs.

The company will cut 10 percent of full-time equivalent positions in its distribution center, home office and field administration units. The exact number of jobs affected wasn’t immediately available.

Separately, Pier 1 has started negotiating with landlords to lower store rents. The company said it will have to record early termination agreements to close up to 125 underperforming store locations if it can’t negotiate cheaper rents. The negotiations should be completed by the end of May, Pier 1 said.

The company expects to incur costs of about $5 million for severance, outplacement and other charges, and will record one-time charges for store closings, if necessary.

That reminds me: has Steve & Barry’s already shut down at the Biltmore Square Mall?

Jason Sandford

Jason Sandford is a reporter, writer, blogger and photographer interested in all things Asheville.

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4 Comments

Lena February 5, 2009

S&B closed January 15. Damn, I really love Pier 1 (though sometimes I can find comparable stuff at Target for a better price!).

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Ash February 5, 2009

Jeremy, yup – trying not to be repetitive. There’s a store in Arden, too.

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Jeremy February 5, 2009

Right after I hit "send," I realized you meant "outlet" as in "store," not "place serving as a clearinghouse for cheap stuff from last season" (which is what the Biltmore Square store did for its last several months). I’m such a dork.

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Jeremy February 5, 2009

Do they still have an outlet in Asheville? The standalone near Biltmore Square closed some time ago.

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