Pier 1 Imports filed for chapter 11 Bankruptcy protection today and is pursuing a sale of the company, per an agreement with a majority of its term loan lenders, according to a statement. The bankruptcy was filed in the U.S. Bankruptcy Court for the Eastern District of Virginia, the home furnishings retailer noted. Pier 1...

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District: A district is a type of administrative division, in some countries managed by a local government. Entities known as districts vary greatly in size, spanning entire regions or counties, several municipalities, or subdivisions of municipalities.
Virginia: Virginia , officially the Commonwealth of Virginia, is a U.S. state located in the South Atlantic region of the United States. Virginia is nicknamed the "Old Dominion" and the "Mother of Presidents" after the eight U.S. presidents born there. The geography and climate of the Commonwealth are shaped
Bankruptcy: Bankruptcy is a legal status of a person or other entity that cannot repay the debts it owes to creditors. In most jurisdictions, bankruptcy is imposed by a court order, often initiated by the debtor.
Imports: An import is a good brought into a jurisdiction, especially across a national border, from an external source. The purchaser of the exotic good is called an importer. An import in the receiving country is an export from the sending country. Importation and exportation are the defining financial tran
Pier: A pier is a raised structure, including bridge and building supports and walkways, typically supported by widely spread piles or pillars. The lighter structure of a pier allows tides and currents to flow almost unhindered, whereas the more solid foundations of a quay or the closely spaced piles of a
Bankruptcy Court: United States bankruptcy courts are courts created under Article I of the United States Constitution. They function as units of the district courts and have subject-matter jurisdiction over bankruptcy cases. The federal district courts have original and exclusive jurisdiction over all cases arising