In what court did Pier 1 Imports file for bankruptcy, and how does this relate to Chick Fil A?
Chick_Fil_A Franchise · 2025 FDDAnswer from 2025 FDD Document
On February 17, 2020, Pier 1 Imports, Inc. ("Pier 1"), having a principal place of business at 100 Pier 1 Place, Fort Worth, Texas 76192, filed a petition under Chapter 11 of the U.S. Bankruptcy Code in the United States Bankruptcy Court for the Eastern District of Virginia (In re Pier 1 Imports, Inc., Petition #: 20-30805-KRH). Pier 1 is not the franchisor nor an affiliate of the franchisor. Cheryl Bachelder, who joined our Board of Directors in April 2019, had served as Interim Chief Executive Officer of Pier 1 from December 2018 through November 2019. The Court approved a sale of Pier 1's intellectual property, including its trademark, data, customer lists and other assets related to e-commerce on July 30, 2020. Pier 1 closed its stores and liquidated its assets and is in the process of distributing the proceeds to creditors in accordance with the priorities in the Bankruptcy Code. The matter is still pending.
Source: Item 4 — Bankruptcy (FDD page 25)
What This Means (2025 FDD)
According to Chick Fil A's 2025 Franchise Disclosure Document, Pier 1 Imports filed a petition under Chapter 11 of the U.S. Bankruptcy Code in the United States Bankruptcy Court for the Eastern District of Virginia. The document clarifies that Pier 1 Imports is not the franchisor nor an affiliate of Chick Fil A. However, Cheryl Bachelder, who is on Chick Fil A's Board of Directors since April 2019, had previously served as Interim Chief Executive Officer of Pier 1 from December 2018 through November 2019.
The bankruptcy filing of Pier 1 Imports is disclosed because Cheryl Bachelder, a member of Chick Fil A's Board of Directors, was previously the Interim Chief Executive Officer of Pier 1. This disclosure is included to provide transparency to potential franchisees, even though Pier 1 is not affiliated with Chick Fil A. The bankruptcy court approved the sale of Pier 1's intellectual property on July 30, 2020, and the company is in the process of distributing proceeds to creditors.
This information is relevant to prospective Chick Fil A franchisees as it provides insight into the background of individuals associated with Chick Fil A's leadership. While the bankruptcy of Pier 1 Imports does not directly impact Chick Fil A, the disclosure ensures that potential franchisees are aware of the professional history of key personnel within the Chick Fil A organization. This aligns with standard franchise disclosure practices, which require franchisors to disclose relevant bankruptcy information to enable informed decision-making by potential franchisees.