Wires

Pier 1 Imports weighs bankruptcy, plans 40% cut to headquarters staff - Bloomberg Law

Bloomberg Law@

Jan 6 (Reuters) - Home decor and furniture retailer Pier 1 Imports Inc has drafted a bankruptcy plan and is planning to cut 40% of its headquarters staff, Bloomberg Law reported on Monday, citing people with knowledge of the matter.

The company's shares fell nearly 17% before trading was halted. (https://bit.ly/2s3KYBu)

Pier 1 did not immediately respond to a Reuters request for comment. (Reporting by Nivedita Balu in Bengaluru; Editing by Shounak Dasgupta)