Exclusive: Retailer Pier 1 taps debt restructuring lawyers - sources [Reuters]
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Source: Reuters
Exclusive: Retailer Pier 1 taps debt restructuring lawyers - sources | Reuters 3 Min Read (Reuters) - U.S. home furnishing retail chain Pier 1 Imports Inc has tapped debt restructuring lawyers to navigate potential negotiations with lenders as it struggles with falling sales, people familiar with the matter said on Thursday. Known for selling wicker chairs and scented candles, Pier 1 has suffered financial losses amid an increasingly competitive retail landscape dominated by the likes of Amazon.com Inc and Walmart Inc. Pier 1, which has roughly 987 stores in the United States and Canada, has added debt restructuring specialists at Kirkland & Ellis LLP to a roster of advisers counseling the chain as it explores strategic alternatives, the sources said. Pier 1 is also taking meetings with investment bankers who have debt restructuring expertise as it weighs options, said the sources, who spoke on condition of anonymity because the company’s deliberations are confidential. As of December
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