bought the headquarters of Pier 1 for $104 million. In May 2017, Alasdair James became CEO following Alex Smith's departure in December 2016. In December 2018, Alasdair James was replaced by veteran CEO Cheryl Bachelder. Bachelder is served as interim CEO until the former Pier 1 CFO, Robert Riesbeck took over in November 2019. On January 6, 2020, it was announced that Pier 1 will close up to 450 stores, citing "a reduction in corporate headcount". On February 17, 2020, Pier 1 Imports, Inc. and seven affiliated companies filed Chapter 11 bankruptcy in the United States District Court for the Eastern District of Virginia. As part of the filing, the company is closing all their stores in Canada. On May 19, 2020, Pier 1 Imports announced that it is asking the bankruptcy court to close all stores, due in large part to the COVID-19 pandemic and failing to find a buyer. On May 30, it was announced that Pier 1 Imports had received court approval to liquidate all locations. Pier 1 announced that they plan to close all stores by the end of October 2020. In June 2020, Retail Ecommerce Ventures (REV) acquired Pier 1 for $31 million. REV, which was founded by former NASA scientist Alex Mehr and serial entrepreneur Tai Lopez, is a holding company that buys distressed iconic brands and revives them as e-commerce businesses. Other recent acquisitions of REV include DressBarn and Modell's Sporting Goods. REV acquired control of the Pier 1 website at the end of October 2020, just about the time the last store had closed, and moved on-line operations to Dallas. Financial data Numbers given in millions USD. Stores On April 17, 2019, Pier 1 announced plans to close up to 145 stores in its 2020 fiscal year ending in March. The company had already closed 30 locations in its 2019 fiscal year. As of April 2019, the chain operates 973 stores under the name Pier 1 Imports in the United States and Canada (with about 59 locations). On January 6, 2020, Pier 1 announced that it planned to close up to 400 locations and several distribution centers to reduce its corporate expenses. The company said it has contracted a liquidation company to close the stores. In February 2020, Pier 1 updated this number, and announced it would close 450 locations in its Chapter 11 restructuring, which would include the closure of all