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Pier 1 in deal to sell its e-commerce business, intellectual assets

Pier 1 storefront

Pier 1 Imports has accepted a raised offer for its intellectual property, data and  online-related assets.

Retail Ecommerce Ventures LLC will purchase the bankrupt home décor assets for $31 million, according to court documents, which is up from its earlier offer of $20 million. The sale is subject to court approval.

Pier 1 filed for bankruptcy in February, with plans to close about half its stores and pursue a sale. But in May, it announced it would close all its stores and liquidate after after being unable to find a buyer.

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