May 19, 2020 / 6:42 AM / 13 days ago

BRIEF-Pier 1 Seeks Bankruptcy Court Approval To Wind-Down Business Operations

May 19 (Reuters) - Pier 1 Imports Inc:

* PIER 1 INTENDS TO PURSUE ORDERLY WIND-DOWN OF BUSINESS OPERATIONS

* PIER 1 IMPORTS INC - HAS FILED A MOTION SEEKING BANKRUPTCY COURT APPROVAL TO BEGIN AN ORDERLY WIND-DOWN OF COMPANY’S RETAIL OPERATIONS

* PIER 1 IMPORTS INC - CO’S DIP LENDERS AGREED CO TO OVERDRAW DIP FACILITY BY APPROX $40 MILLION TO SUPPORT COMPANY’S CONTINUED OPERATIONS

* PIER 1 IMPORTS INC - CO INTENDS TO INITIATE STORE CLOSING EFFORTS AND LIQUIDATION SALES ONCE STORE LOCATIONS CAN REOPEN Source text for Eikon: Further company coverage:

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