It was a cruel development but Pier 1’s statement that the pandemic was the cause of its meltdown rings hollow. Pier 1’s problems that got them to this point are largely self-made and the company’s executives and board must bear the ultimate responsibility. • Even with seemingly more attention on its stores, Pier 1’s physical fleet was very tired and very much in the wrong place. Compare a Pier 1 store with the terrific home décor departments at Target and what’s wrong becomes painfully obvious. The long list of Pier 1 bad decisions, poor management and failure to adapt to the changing marketplace goes on and on.

Source: Forbes May 19, 2020 16:30 UTC