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Wednesday, Jul 24, 2024

Retailer Pirch Closing 6 of 10 Stores As It Restructures Operations

San Diego-based retailer Pirch, which sells upscale home furnishings and fixtures nationwide and had been growing rapidly during the past few years, has announced plans to close all of its stores outside of California as it restructures operations.

The company will go from its former total of 10 stores down to four by the end of this month. It has already closed is its newest showroom, in Austin, Texas, which had opened in May. Leaders of Pirch, which is headquartered in University Towne Center where its flagship store is located, could not immediately be reached for comment.

“Pirch has made the strategic decision to refocus its footprint and pace of expansion,” officials said in a company statement. “Our California stores are performing well and profitable, and we remain focused on growth in this region.”

According to Bloomberg News and other media reports, Pirch is in discussions with landlords at the five closing locations on the East Coast and in the Midwest.

The privately held Pirch was started in 2009 as Fixtures Living. It is led by co-founder and

CEO Jeffery Sears

CEO Jeffery Sears and President Andrea Dorigo, and is backed by private equity firm L Catterton.

The company reported 2015 revenue of approximately $200 million, which it said was a 60 percent increase from the prior year.

Officials were projecting similar 2016 growth as Pirch opened its ninth store in June of that year in New York City’s upscale and trendy SoHo neighborhood of Manhattan.

Also at that time, officials announced that Pirch was setting its sights on other big-city markets including Miami, Fla., Boston and Washington, D.C.

In addition to the Manhattan store, Pirch is in the process of closing stores that it opened earlier in Dallas, Chicago, Atlanta and Paramus, N.J. All are expected to close by the end of this month.

Remaining open will be its stores in UTC, Rancho Mirage, Glendale and Costa Mesa.


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