Pier 1 to close up to 450 stores; cut corporate headcount, distribution centers

Fort Worth-based Pier 1 Imports Inc. released its quarterly earnings on Jan. 6 and announced plans to potentially close up to 450 store locations.

“To reflect the revised store footprint, the company also plans to close certain distribution centers and reduce its corporate expenses,” the press release stated. “This includes a reduction in corporate headcount.”

The embattled retailer did not include any time parameters for the store closures or job cubs to occur. It operated 942 stores at the end…