Pier 1 Imports shares tanked more than 25% Monday afternoon following a report from Bloomberg that said the company is preparing to file for bankruptcy and slash jobs.
shares tanked more than 25% Monday afternoon following a report from Bloomberg that said the company is preparing to file for bankruptcy and slash jobs.In November, Robert Riesbeck was named CEO, replacing Cheryl Bachelder, who had been serving as interim CEO since December 2018. Riesbeck had been Pier 1's CFO since July 2019 and has prior experience in turnaround situations.
Pier 1 has posted sales declines for eight consecutive quarters. The home furnishings giant has lost market share to the likes of
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