Pier 1 Shipping Out!

Pier 1 Imports is the bubble. It's saying that if things don't turn around it could be the end.

The Great American Comeback, folks!

Troubled home goods store Pier 1 is telling investors that the end is near and if they don't find a suitable investor, they're going to liquidate and go out of business.

Last year, Pier 1 had announced they're going to shut down over 500 stores in the United States. The locations in the U.S. commonwealth of Puerto Rico, and all the Canadian provinces are affected.

The company, based in Fort Worth, Texas, released a statement saying that it reached a plan with lenders to provide it with $256 million. It will try to find a buyer for the company.

The company has more than 500 stores open.

"Today's actions are intended to provide Pier 1 with additional time and financial flexibility as we now work to unlock additional value for our stakeholders through a sale," Pier 1's CEO Robert Riesbeck said. He assumed that post in November and is also the company's chief financial officer.

Foot traffic decreased heavily at Pier 1 stores.

Their last quarter earnings showed a massive decrease around 11.4% compared to the same period in 2018. The company lost $59 million in revenue.

Since 2019, over 9,000 stores in America closed. It's been a huge increase. CNN reports that there was a 59% jump from 2018 and the highest number since Coresight Research began tracking the data in 2012. So far this year, CNN reports that Macy's, Papyrus and other retailers have announced major store closings.

The home goods sector has been hit hard by Jeff Bozos and Amazon. The company Wayfair also hits the retailers hard as well. Big box stores like Target and Walmart are picking at the bones.

Walmart is struggling as well. A round of locations in the United States and Canada ended the 24-hour services at many of their superstores.

Bed Bath & Beyond, a rival home decor retailer is struggling as well. The company had its sales slump and the holiday sales fell flat. They have considered closing locations to save money.

Private equity has killed 600,000 retail jobs. These companies are piling on debt to companies.

Looking forward to another recession. If Trump does win reelection, expect the possible collapse of the economy. He will claim that Democrats and Barack Obama did it because of regulations and taxes.

But in reality, Trump and Republicans have raise the debt, cutback regulations that protect companies from being hit with debt and he's trying to rewrite history by removing policies that kept us from having a recession.

The Pier 1 store located near the Mall at Fairfield Commons will be affected by the closure. That store was on the list of the 500 closures. That store is located in Beavercreek and it will put a big dent in the region.