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Author Archives: tfitzpatrick

Pier 1 Files for bankruptcy protection amid online challenge

The Fort Worth, Texas-based company, which was founded in 1962, has been struggling with increased competition from budget-friendly online retailers such as Wayfair. Pier 1 said it will pursue a sale, with a March 23 deadline to submit bids. A hearing is scheduled for Tuesday at the U.S. Bankruptcy Court for the Eastern District of Virginia.

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Blue Apron may be up for sale as losses mount

The announcement came on the same day that the struggling meal-delivery service company reported its latest quarterly results. Blue Apron posted a loss of $1.66 a share -- a bigger deficit than expected -- and a sales drop of more than 30% that was also larger than what Wall Street had forecast. Company management is holding a conference call Wednesday

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US home construction dips 3.6% in January

The Commerce Department reported Wednesday that builders started construction on 1.57 million homes at a seasonally adjusted annual rate, a decline of 3.6% from 1.63 million units in December. That had been the highest point since late 2006 at the peak of the housing boom of the last decade.

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