Yakima Valley Losing Another Store to Coronavirus!
Attention K-Mart Shoppers! Oh, wait, there aren't many of those around anymore either.
It looks like The Yakima Valley is losing yet another retail store and it isn't as though nobody saw it coming. Pier 1 Imports has announced they will be closing all of their 540 locations nationwide, as a result of their inability to find a buyer who would purchase them out of bankruptcy.
Robert Riesbeck, Pier 1’s Chief Executive Officer and Chief Financial Officer said, “This decision follows months of working to identify a buyer who would continue to operate our business going forward. Unfortunately, the challenging retail environment has been significantly compounded by the profound impact of COVID-19, hindering our ability to secure such a buyer and requiring us to wind down.”
Times for Pier 1 were already getting tough, having to compete with the likes of Amazon, Target, Wayfair, Walmart and others, who were able to offer similar items for less.
I don't want to sound eager for this to happen, after all, this means real people losing real jobs. However, I think it's only logical to wonder: Does this mean a really bargain-filled 'Going Out of Business Liquidation Sale?' Where 'EVERYTHING MUST GO and PRICES ARE SLASHED TO THE BONE!' Because, that would be a pretty amazing sale!
Is it too soon to wonder what might be going into that location when the time comes? That's some prime real estate for a larger retail store - near the Valley Mall, Miner's and Cabella's in Union Gap. You can count on me to pose that question as soon as the time is right and perhaps help to influence who the next tenant will be.