By Richard Van Winkle, News of Mill Creek.
The Mill Creek Town Center will lose another core business this summer. On Tuesday, May 19, 2020, the company announced that they are seeking bankruptcy court permission to begin an “orderly wind-down” of their business by closing all stores and selling all inventory and assets.
Pier 1 Imports filed for Chapter 11 Bankruptcy in February of this year because of the challenging retail environment.
Although they announced closure of 400 of their stores at the time, the Mill Creek Town Center store was to remain open. The COVID-19 pandemic required them to change their plans.
In a May 19th press release Chief Executive Officer Robert Riesbeck said, “We are grateful to our dedicated and hardworking associates, millions of customers and committed vendors who have collectively supported Pier 1 for decades.”
He went on to say, “This decision follows months of working to identify a buyer who would continue to operate our business going forward. Unfortunately, the challenging retail environment has been significantly compounded by the profound impact of COVID-19, hindering our ability to secure such a buyer and requiring us to wind down.”
All Pier 1 Imports brick and mortar stores will begin selling inventory and assets when local governments allow retail businesses to reopen after the COVID-19 shutdowns. The company’s online retail operations have continued during the pandemic.
The Mill Creek Town Center’s Pier 1 Imports store can reopen with limited operations when Snohomish County is approved to move to Phase 2 of Washington State’s Safe Start Plan.
Snohomish County doesn’t yet qualify to move into Phase 2 because there have been too many new COVID-19 cases diagnosed during the past 14-days.