Pier 1 Imports closed all stores in 2021
Pier 1 Imports, the home décor and furniture retailer that operated for over 50 years, shut down completely in May 2021. The company filed for bankruptcy in February 2020 during the pandemic and liquidated all remaining inventory over the following months. If you shopped there before the closure or are looking for similar products now, you'll need to know where the company stood and what alternatives exist.
The chain had roughly 540 stores at its peak in the early 2000s but had been shrinking for years before the pandemic accelerated its decline. Pier 1 was known for imported home furnishings, decorative accessories, and casual furniture at mid-range prices. The brand focused on global-inspired designs — rattan, wicker, wood, and textiles from Asia, Africa, and Latin America.
Key Takeaways
- Pier 1 Imports permanently closed all stores in May 2021 after filing for bankruptcy in February 2020.
- The company sold off remaining inventory through liquidation sales, and no Pier 1 locations or online store remain in operation.
- Retailers that carry similar home décor and casual furniture styles include World Market, Wayfair, Overstock, and HomeGoods.
- If you have a Pier 1 gift card or store credit from before the closure, you cannot redeem it — the company no longer exists.
Timeline of Pier 1's bankruptcy and closure
Pier 1 Imports announced its first bankruptcy filing on January 28, 2020, saying it would close 450 stores over the following two years. The company was struggling with debt, changing consumer preferences, and competition from online retailers. When the COVID-19 pandemic hit in March 2020, store traffic dropped sharply, and the company accelerated its plans.
By May 2021, all remaining Pier 1 locations had closed. The company held going-out-of-business sales at each store to clear inventory, and those sales ended by late spring 2021. The Pier 1 website also went offline, and the company ceased all retail operations. No Pier 1 Imports stores or online presence exist today.
What to do with Pier 1 gift cards or store credit
If you have a Pier 1 Imports gift card or store credit from before May 2021, it cannot be redeemed. The company no longer operates, and gift cards issued by a closed retailer have no value. The bankruptcy process did not set aside funds to honor old gift cards.
Some states have unclaimed property laws that may explore to unused gift card balances, but the process and timeframe vary by state. You would need to contact your state's unclaimed property office (often part of the state treasurer's office) to report the card and ask whether funds were turned over to the state. This is a long process and recovery is not certain.
Retailers with similar home décor and furniture
Several retailers now carry the types of products Pier 1 was known for — global home décor, casual furniture, and imported textiles. World Market (Cost Plus World Market) is probably the closest match: it stocks imported home furnishings, decorative items, and casual seating with a similar aesthetic. World Market has physical stores in many regions and also sells online.
Wayfair is a large online furniture and home décor retailer with a wide range of styles, including global and casual designs. It carries both budget and higher-end options and ships nationwide. Overstock also offers home furnishings and décor online, with a mix of price points and styles.
HomeGoods and its sister store TJ Maxx Home carry home décor and casual furniture at discount prices, though inventory changes frequently and varies by location. Target and Walmart both stock home décor and casual furniture online and in stores, though their selections skew more contemporary and less globally focused than Pier 1's did.
Why Pier 1 struggled before the pandemic
Pier 1's decline began years before its 2020 bankruptcy. The company faced several headwinds: online retailers like Wayfair and Amazon made it easier to shop for home goods without visiting a physical store, and consumers increasingly bought furniture directly from manufacturers or discount chains. Pier 1's store-heavy model — with hundreds of locations requiring rent, staff, and inventory — became expensive to maintain as sales per store fell.
The company also faced changing tastes. Younger consumers moved toward minimalist and contemporary styles rather than the global, eclectic aesthetic Pier 1 had built its brand around. Pier 1 tried to modernize its product mix and marketing but did not move fast enough to compete with faster-moving online retailers and big-box stores.
Whether Pier 1 might return
As of now, there are no plans to reopen Pier 1 Imports. The company's assets were sold off during bankruptcy, and the brand name and intellectual property were not purchased by another retailer. It is possible that a company could license or acquire the Pier 1 name in the future, but that has not happened, and there is no indication it will.
Retail bankruptcies sometimes result in a brand being revived years later in a smaller form or online-only format, but this is uncommon and depends on whether someone sees value in the brand. For now, if you want the types of products Pier 1 sold, you will need to shop at one of the alternatives listed above.
Frequently Asked Questions
Can I still shop Pier 1 online?
No. The Pier 1 Imports website is no longer active, and the company does not operate an online store. All Pier 1 locations closed in May 2021, and no retail presence remains.
What happened to my Pier 1 gift card?
Pier 1 gift cards cannot be redeemed because the company no longer exists. You may contact your state's unclaimed property office to ask whether the balance was turned over to the state, though recovery is not certain and the process varies by state.
Is Pier 1 coming back?
There are currently no plans to reopen Pier 1 Imports. The company's assets were liquidated during bankruptcy, and the brand has not been purchased or licensed by another retailer.
Where can I find furniture like Pier 1 used to sell?
World Market carries a similar mix of imported home décor and casual furniture. Wayfair, Overstock, HomeGoods, and Target also stock global-inspired and casual home furnishings, though each has a different selection and price range.