“We believe coming out of the current crisis, health and fitness will become even more important to the consumer."
"This is not the outcome we hoped for when we began [the Chapter 11] process, and we are deeply saddened to move forward with winding down Pier 1."
For many grocery staples and cleaning supply items, "we were selling in two or three hours what we normally sell in two or three days."
The luxury retailer "had been struggling with competition from online rivals and dwindling cash" before the coronavirus forced it to close its stores.
The retail chain said it reached a deal with its lenders to convert $1.65 billion of debt into equity.
The key to survival in a recession is to anticipate a lender’s every move and every question.
Price’s departure comes amid a massive retail shutdown that forced the company to close stores, furlough employees, and temporarily cut executive pay.
At the best of times, many retailers were struggling to gain any footing with customers, but now it is even more difficult to survive.
S&P expects "very significant disruptions and sales deterioration" through the second quarter due to store closings and economic contraction.
The 131-year-old company cited the “extremely challenging” retail environment in announcing it would pursue a Chapter 11 liquidation of all its 134 stores.
The sale of Leslie Wexner's controlling stake to Sycamore Partners is "an admission that [he] couldn’t revive the fortunes" of the troubled lingerie brand.
Walmart's Q4 results show “the pressure traditional retailers are facing to keep pace with consumers who are increasingly shopping online."
