The Pier 1 Imports store in Gainesville is one of up to 450 stores the company is closing.
Pier 1 announced earlier this month that it is closing nearly half its 942 stores as it struggles to draw consumers and compete online.
The Gainesville store, located on Pearl Nix Parkway, is one of 11 in Georgia that is closing, according to Business Insider.
The home decor company will also shutter distribution centers. Pier 1 also plans layoffs at its corporate headquarters in Fort Worth, Texas. The company didn't say how many workers will be impacted. The moves had some investors wondering if a bankruptcy filing was imminent.
“Although decisions that impact our associates are never easy, reducing the number of our brick-and-mortar locations is a necessary business decision," CEO Robert Riesbeck said in a statement issued earlier this month.
Pier 1 said sales in its most recent quarter fell 13% to $358 million as store traffic fell. It reported a net loss of $59 million for the quarter, which ended Nov. 30.
The company — which was founded in California in 1962 — has been trying to revamp its cluttered stores and change its offerings to appeal more to younger customers. But it is struggling to compete with budget-friendly home decor sites like Wayfair.
(The Associated Press contributed to this story.)
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