Is the Amarillo Pier 1 Imports store closing? That is the big question as we learn that the company plans to close up to 450 stores, about half of their footprint. Pier 1, which is based out of Fort Worth, announced this week that they will be closing the large number of stores to cut their footprint and expenses. In their press release, company officials said the closures are needed to "better align its business with the current operating environment."

Along with store closures, they also announced that some distribution centers will close and the overall plan is to cut corporate expenses. Media giant Bloomberg says it appears the company is about to file for bankruptcy. In Pier 1's press release, they stated that the company will use a third-party liquidator to manage the store closings. It is not clear which stores will close and when.

Early speculation is that stores in less populated areas with lower sales maybe the first to go. That unfortunately could mean Amarillo may not make the cut, thus leaving the area around Pier 1 and the old Toys R Us a vacant retail corner. What would you like to see move into that corner of I-40 and Soncy?