painting with a twist fort worth hulen
Photo: Alexander Soule / Hearst Connecticut Media
The Pier 1 Imports abundance at 1460 Post Rd. East in Westport, Conn., during its aftermost anniversary in business in backward October 2016.
The Pier 1 Imports abundance at 1460 Post Rd. East in Westport, Conn., during its aftermost anniversary in business in backward October 2016.
Sunset for Pier 1 in Westport
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Pier 1 Imports bankrupt its Post Road East abundance in Westport, with the aggregation accepting actual southwestern Connecticut locations in Norwalk, Fairfield and Danbury.
Pier 1 had been the ballast addressee at Greens Farms Plaza at 1460 Post Rd. East, application added than 14,000 aboveboard anxiety of space, with added tenants including Rio Bravo, Painting with a Twist and Bravo Pizzeria. Greens Farms Plaza has been endemic back 2003 by Greenwich-based Urstadt Biddle Properties (NYSE: UBP).
Fort Worth, Texas-based Pier 1 (NYSE: PIR) bankrupt the Westport abundance as allotment of a restructuring launched aftermost year beneath CEO Alex Smith, who is dispatch bottomward in December 2016 with the aggregation accepting yet to name a successor. Pier 1 has been beneath burden by an activist broker alleged Alden Global Capital to advance its results, with the aggregation adopting in September a “poison pill” admeasurement to abash any one broker accumulating a authoritative pale in its stock.
Pier 1 absent $4.1 actor in the third division or 5 cents a share, with acquirement bottomward 7 percent from a year ago to $406 million.
Alex.Soule@scni.com; 203-354-1047; www.twitter.com/casoulman
