Categories: Headlines

Pier 1 to Sell IP for $30 million

Pier 1 Imports (Fort Worth, Texas) will sell all of its owned intellection property, data and e-commerce-related assets to Pier 1 Imports Online for $31 million, reports Retail Dive. Retail Ecommerce Ventures will serve as guarantor.

Private equity firm Sycamore Partners Management, a New York-based private equity firm with investments in Belk, Aeropostale, Staples and other retailers, will serve as the backup bidder.

VMSD Staff

Drawing on more than 125 years of history serving the retail design market, VMSD magazine provides retail professionals with the most up-to-date, innovative retail design ideas and industry news through its industry-leading magazine, website, social media channels and bulletins.

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