Pier 1 gets restraining order on TJX
By Staff -- Home Textiles Today, 2/14/2007 12:56:00 PM
Fort Worth, Texas – Pier 1 Imports said it has obtained a temporary restraining order against The TJX Companies, “enjoining TJX from filing any judicial proceeding or lawsuit against Alexander Smith, other than making a claim for arbitration with the American Arbitration Association.”
Pier 1 has hired Smith as chairman and ceo, effective Feb. 19. At TJX, he was serving as senior exec vp, group president on the day the hiring was announced, Jan. 30.
Pier 1 had filed suit on Monday, Feb. 12 “to prevent further interference by TJX with the employment of Pier 1's new president and ceo, Alex Smith.” A Pier 1 executive committee member, Tom Thomas, said Pier 1 “is not a competitor with any of the TJX companies.”
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