Pier 1 to close Alabaster store April 26

Published 12:20 am Friday, March 27, 2009

Pier 1 in Alabaster will be closing April 26 following an announcement that the company has decided to close 16 stores nationwide.

The store is currently liquidating merchandise.

Pier 1 Imports Inc. announced last month that it had hired a company to help negotiate rent reductions, and the company has reduced rents by $5 million thus far for the 2010 fiscal year, with plans to close no more than 80 stores within the fiscal year.

The company announced a loss of $29 million during the fourth quarter, with store sales falling by 9.7 percent.