E-commerce

Pier 1 lives on online

Photo by istock.com

July 9, 2020

While a bankruptcy action is shuttering physical store locations for Pier 1, the retail brand will keep an online presence after selling the rights to its brand.

The retailer has sold the rights for $20 million to Retail Ecommerce Ventures, according to a New York Post report.

The COVID-19 pandemic initially forced Pier 1, along with most retail stores, to close stores. The retailer began reopening in May as part of a move to sell off inventory at its 936 stores.