What happened to Pier 1 merchandise?
After acquiring Pier 1’s trademark name, intellectual property, data and e-commerce assets, new owner Retail Ecommerce Ventures (REV) is relaunching the retail brand as an online store, according to a Thursday press release. Pier 1 closed its brick-and-mortar stores earlier this year as part of its bankruptcy plan.
Is Pier 1 still selling online?
Here are some of the best deals. Home decor retailer Pier 1 has officially made a comeback by relaunching its online store after filing for Chapter 11 bankruptcy and ceasing all operations. Roughly 540 brick-and-mortar stores and its online operations shuttered last fall. …
Will Pier 1 have a going out of business sale?
Pier 1 filed for bankruptcy early on in 2020. It also tried and failed to find a buyer for the business. Because of COVID-19, the chain will be closing all stores still remaining in the United States—not half of their stores, as was announced earlier in 2020.
Who bought Pier 1 inventory?
Retail Ecommerce Ventures
Retail Ecommerce Ventures, the investment firm that acquired the rights to Pier 1′s trademark name, intellectual property, data and various ecommerce-related assets for $31 million in July relaunched Pier1.com on Thursday.
Is Stein Mart still in business?
The brand will relaunch as an online-only store in 2021 REV announced Thursday that it won a bankruptcy court auction for the intellectual property of Stein Mart Inc. Under the agreement, REV will acquire the Stein Mart nameplate as well as its private-label brands, domain names, social media assets and customer data.
Who bought Pier One Imports?
In June 2020, Retail Ecommerce Ventures (REV) acquired Pier 1 for $31 million. REV, which was founded by former NASA scientist Alex Mehr and serial entrepreneur Tai Lopez, is a holding company that buys distressed iconic brands and revives them as e-commerce businesses.
Who owns Stein Mart now?
The firm is co-owned by social media influencer Tai Lopez and Alex Mehr, the co-founder of online dating website Zoosk. Lopez said Stein Mart was an attractive purchase because of its devoted customer base and improving e-commerce sales prior to its bankruptcy.