Pier 1 Imports Inc. has tapped debt restructuring lawyers to navigate potential negotiations with lenders as it struggles with falling sales, people familiar with the matter said on March 14, sending shares of the U.S. home furnishing retail chain sharply lower.
Known for selling wicker chairs and scented candles, Pier 1 has suffered financial losses amid an increasingly competitive retail landscape dominated by the likes of Amazon.com Inc. and Walmart Inc.
