Pier 1 Imports, Inc., along with its affiliates, filed a joint plan of reorganization with related disclosure statement in the US Bankruptcy Court on February 27, 2020. As per the plan filed, administrative claims, statutory fees, professional fee claims, DIP claims consisting of Bank of America Term Loan of $7.5 million, Bank of America revolving credit facility of $100 million, Wells Fargo term loan of $7.5 million, Wells Fargo revolving credit facility of $100 million, Pathlight Capital, LLC term loan of $41.22 million, priority tax claims and other priority claims will be paid full in cash. Other secured claims will be paid in full in cash. ABL claims of $172.25 million will be paid in cash. Term loan claims of $190.60 million and general unsecured claims will either be paid through pro rata share of proceeds from waterfall recovery or pro rata share of New Pier I interests and new term loan. Intercompany claims will either be reinstated or cancelled, intercompany interests will be reinstated and interest in Pier 1 will be cancelled, while section 510(b) claims will be cancelled. The plan will be funded through cash in hand, sale of assets and issuance of new pier 1 interests.