Pier 1 Imports Inc. (fka PIRRQ)

[bar1080]

"* Company has filed for chapter 11 and will pursue a court-supervised sale with bids due by late March and court confirmation expected by late April.

* Secured $256 million in debtor-in-possession financing to provide sufficient liquidity until completion of the sales process.

* Sales proceeds will likely be insufficient to cover creditor claims. As a result, equityholders need to prepare for being wiped-out.

* The NYSE has already begun the process of delisting PIR from the NYSE and the company will likely commence trading on the Pink Sheets Market soon. In my opinion, investors should sell existing positions and move on."

https://seekingalpha.com/article/4324880-pier-1-imports-to-pursue-court-supervised-sale-equityholders-likely-to-end-up-nothing