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Moody’s Predicts Trouble for Pier 1 Imports

Pier 1
Photo Credit: Steve Morgan via Wikimedia Commons cc

Moody’s analysts are predicting near-term default for Pier 1 Imports. That retailer recently announced that it would close up to 450 of its stores. That is almost half of its store fleet. A bankruptcy filing, perhaps within the next twelve months, is looking increasingly likely.

Moody’s downgrades come just days after Pier 1 announced major store closure plans amid disappointing third quarter results.

Read the full story at Retail Dive.