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As nearly 450 Pier 1 locations are set to close in the coming year, the company announced it is filing for Chapter 11 bankruptcy. Of the 450 locations set to close, 400 of them have either recently closed or started liquidating stock. In addition to the store closings, the company will shutter two distribution centers. The moves come during a rough time for brick and mortar retailers, as malls and shopping centers throughout the United States become more barren. Pier 1 said it is also in the process of securing a buyer for the company over the next six weeks. “In recent months, we have taken significant steps forward in our business transformation and cost-reduction initiatives," CEO Robert Riesbeck said. "We have worked to establish an appropriately sized and profitable store footprint, operating structure and merchandise assortment that will enable Pier 1 to better serve our customers across store and online channels. "Today’s actions are intended to provide Pier 1 with additional time and financial flexibility as we now work to unlock additional value for our stakeholders through a sale of the Company. We are moving ahead in this process with the support of our lenders and are pleased with the initial interest as we engage in discussions with potential buyers.” 1296
As commemorations for the 30th anniversary of the Tiananmen Square massacre take place worldwide Tuesday, any coverage or discussion of the event will be tightly censored in China.Hundreds of people were killed on June 4, 1989, as People's Liberation Army troops cracked down on pro-democracy protesters in and around Beijing's Tiananmen Square. Events will be held and speeches made to commemorate the massacre and those who died in cities around the world.In central Taipei, capital of self-ruled Taiwan, a massive inflatable version of the iconic "Tank Man," who defied the military as they entered Tiananmen Square, has been on display for several weeks.On Monday, Taiwan's Mainland Affairs Council called on Beijing to "face up to historical mistakes and apologize as soon as possible for the crackdown.""In the past 30 years, Beijing lacked the courage to calmly reflect on the historical significance of the June 4th Incident," the council's statement said. "Rather, they blocked the information and distorted the truth about it and tried to conceal the crime."Activists will 1095
CAPE CANAVERAL, Fla. – NASA and SpaceX have postponed their historic launch due to inclement weather in Florida. The launch of the Falcon 9 rocket is now scheduled to take place on Saturday, May 30 at 3:22 p.m. ET, weather permitting."We are not going to launch today."Due to the weather conditions, the launch is scrubbing. Our next opportunity will be Saturday, May 30 at 3:22pm ET. Live 402
Are you a dad with common, difficult, and embarrassing baby questions? Baby formula maker Enfamil is here to help as it will launch the ENfo for Dad Hotline starting June 16 and will remain active through June 29. According to a statement by Enfamil, the hotline will provide dads with on-demand access to Enfamil experts. They can help them navigate the most common, difficult, and embarrassing baby questions dads may have, Enfamil said. "As a father of four, I understand what it's like to be a new parent – overwhelmed, excited, and unsure of whether you're making the 'right' decisions," says Patrick Sly, Vice President & General Manager of Infant Formula and Child Nutrition at RB, Enfamil's parent company. "Enfamil decided to launch the hotline to help both new and seasoned dads get answers to a variety of questions to ensure that they can navigate their way through the many stages of fatherhood, stress-free, providing their babies with the best care."Enfamil said dads can reach the hotline by calling 1-800-BABY123 and following the prompt for ENfo for Dad. Enfamil said experts will be available on Sunday, June 16 from 9 a.m. to 5:30 p.m. ET; Monday - Friday: 8 a.m. to 8 p.m. ET; and Saturday: 9 a.m. to 5:30 p.m. ET. 1252
At a news conference on Thursday, federal and state investigators pleaded with the public to give them time to conduct a thorough investigation into the death of George Floyd, who died in police custody on Monday. Floyd died after Derek Chauvin, a now fired Minneapolis police officer, held a knee against Floyd’s neck for several minutes, despite pleas from Floyd and bystanders. Chauvin and three other officers were fired on Tuesday for their role in the incident. Video of Monday’s incident quickly spread on social media, prompting unrest in Minneapolis. Video of the incident made its way to the White House, where President Donald Trump said Thursday that he was “very upset” about the incident. Demonstrators nationwide have called on charges to be filed against Chauvin. Minneapolis Mayor Jacob Frey joined protesters in calling for charges based on the video evidence. While a number of civil rights leaders have called for peace, some did not heed the pleas. A number of Twin City businesses were vandalized and looted on Wednesday and Thursday, prompting the activation of the National Guard.When asked why the video was not enough evidence to produce probable cause for a criminal charge against Chauvin, Hennepin County Attorney Michael Freeman told reporters, “There is other evidence that doesn’t support a criminal charge.”Freeman was joined by members of the FBI and US Attorney’s Office, who said speaking out on an investigation when no charges are pending is unusual for federal law enforcement officials. But the officials stressed the importance of informing the public that an active investigation is underway was important as unrest continued for the third straight night in Minnesota. State and federal prosecutors called on the public to assist with the investigation, and requested anyone with information or video from Monday's incident to reach out to investigators. "Our role in this investigation is to investigate allegations of willful violations of federal civil rights," FBI Special Agent Rainer S. Drolshagen said. "The FBI team is following the path where the facts will lead us. We are conducting a swift, yet meticulous, investigation. In less than 72 hours, much work has been done, but I assure you there's much more to be accomplished." 2291