Pier 1 Imports discontinued its physical stores in 2020 after filing for bankruptcy, closing all locations due to declining sales, competition, and the pandemic's impact, but the brand was acquired and relaunched as an online-only retailer by Retail Ecommerce Ventures (REV). The company tried restructuring but couldn't find a buyer, ultimately liquidating inventory through going-out-of-business sales before shutting its brick-and-mortar stores permanently.

Key Points:

Bankruptcy & Closures: Pier 1 filed for Chapter 11 bankruptcy in early 2020 and, unable to find a buyer, decided to shut down all stores.

COVID-19 Impact: The pandemic accelerated the closures, with liquidation sales happening as stores temporarily closed, according to Taste of Home and TCPalm.

Relaunch as Online-Only: REV purchased Pier 1's brand and intellectual property to create an "internet-first retailer," focusing on e-commerce.

Reasons for Decline: The brand struggled for years against big-box stores and online competitors, failing to adapt to changing consumer tastes, notes Business Insider and Forbes.

You can still find Pier 1 products on their relaunched website, pier1.com, but the physical stores are gone.