Once known for its “treasure hunt” atmosphere, colorful home furnishings, and distinctive holiday decorations, Pier 1 filed for bankruptcy in February 2020. Pier 1 later announced it was winding down its entire business, in part, due to the coronavirus pandemic. And while Pier 1 had a smaller share of the home furnishing industry than some of its rivals, those store closings could mean good news for a few retailers.
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