Replies to post #1017 on 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

[bar1080]

"equityholders unlikely to receive any form of recovery as sales proceeds will likely be insufficient to cover creditor claims, particularly after giving effect to the $256 million in debtor-in-possession financing now sitting at the top of the capital structure."

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

[leftovers]

I don't think you're going see many wild claims on this bad boy? For PIRRQ and it's share holders It's over. Time to stick a fork in it.

Another old school retailer bits the dust. There won't be any magic recovery They already have the Plan in motion to Liquidate ASAP

Share holders are not in the plan they be hung out to dry.