Pier 1, already closing stores in Houston, files for Chapter 11 bankruptcy protection

Pier 1 Imports, which was already in the process of closing hundreds of stores, is the latest U.S. retailer to seek Chapter 11 bankruptcy protection.

Fort Worth-based Pier 1 said in a Feb. 17 press release that it intends to put itself up for sale as part of the bankruptcy process and that it already has the approval of its lenders to do so. The move comes just weeks after Pier 1 said it would close half of its U.S. stores, which will include all of its stores in Canada.

According to court documents,…