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Pier 1 closing its remaining Lincoln store
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Pier 1 closing its remaining Lincoln store

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Pier 1 - January

Pier 1's store at SouthPointe Pavilions is advertising a going-out-of-business sale.

Another retail chain is shutting its doors for good in Lincoln.

Pier 1, which earlier this month announced plans to close nearly half of its stores, is closing the one at SouthPointe Pavilions at 27th Street and Pine Lake Road.

"Store Closing" signs are in the windows of the store, but a spokeswoman for SouthPointe owner RED Development said the company has not been given a closing date or any other details.

Pier 1 did not respond to an email seeking comment.

Sears building in Lincoln sold; plans unknown

The home decor retailer announced last week that it plans to close about 450 of its 972 remaining store locations and shutter some of its distribution centers. A number of news reports have speculated that the company is on the cusp of filing for bankruptcy.

Pier 1 reported it lost $59 million in its most recent quarter as its sales fell more than 13% year over year.

Robert Riesbeck, Pier 1's CEO who was hired in November to try to turn around the company, said in a news release Jan. 6 that "reducing the number of our brick-and-mortar locations is a necessary business decision."

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The Pier 1 store at SouthPointe had been open since 2003. Pier 1 used to have a second store in Lincoln at 52nd and O streets that closed in 2007.

Pier 1 also is closing its three stores in the Omaha area.

Pier 1 joins a long list of national and regional chains that have either gone out of business or closed Lincoln locations over the past couple of years, including Toys 'R' Us, Younkers, Shopko, Sears, Forever 21, Banana Republic, Gap, Charlotte Russe, Charming Charlie and Yankee Candle.

The most recent market report from NAI FMA Realty showed the amount of vacant real estate space in Lincoln is at its highest level since 2012.

Lincoln stores that have closed or are slated to close

Reach the writer at 402-473-2647 or molberding@journalstar.com.

On Twitter @LincolnBizBuzz.

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Business reporter

Matt Olberding is a Lincoln native and University of Nebraska-Lincoln graduate who has been covering business for the Journal Star since 2005.

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