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Pier 1 wins restraining order against TJX

Clears way for new CEO to join company

Clint Engel -- Furniture Today, February 14, 2007

FORT WORTH, Texas — Pier 1 Imports said it has obtained a temporary restraining order against TJX Cos. that clears the way for a former TJX executive to report to Pier 1 as its new president and CEO Monday.

The order stops Framingham Mass.-based TJX from filing any judicial proceeding or lawsuit against Pier 1’s incoming president and CEO, Alex Smith, other than making a claim for arbitration with the American Arbitration Assn.

Fort Worth, Texas-based Pier 1 sought the move to end what it said was TJX’s interference in hiring Smith, who is replacing retiring Pier 1 CEO Marvin Girouard.

Pier 1 said earlier that TJX was threatening legal action against Smith, suggesting in a press release that Smith had a non-compete agreement with his former employer. Pier 1 said the two companies aren’t competitors.

A TJX spokesperson said the company doesn’t comment on pending litigation.

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