Bankrupt Pier 1 Imports is winding down its brick-and-mortar operation, but its brand name will survive online.
Retail Ecommerce Ventures (REV), an investment firm that buys beleaguered brands, is paying $31 million for the moribund home goods retailer’s name and intellectual property. The aim is to reboot Pier 1 online and create a “robust ecommerce future for the brand,” the firm said Friday.
