"99 Cents Only Stores Announces Closure of All 371 Locations"
TL;DR Summary
99 Cents Only Stores, with 371 locations in California, Arizona, Nevada, and Texas, is closing down after over four decades due to challenges in the retail environment, including the impact of the COVID-19 pandemic, shifting consumer demand, inflationary pressures, and rising levels of shrink. The privately held company will liquidate its merchandise and dispose of fixtures, furnishings, and equipment, with sales expected to begin soon. This decision reflects broader weaknesses in the dollar-store category, with other retailers like Dollar Tree also announcing store closures.
Topics:business#99-cents-only#business-retail#dollar-stores#liquidation#retail-industry#store-closures
- 99 Cents Only to close all 371 stores and wind down its business Los Angeles Times
- 99 Cents Only Stores is winding down its business operations CNN
- Retailer 99 Cents Is Mulling a Potential Bankruptcy Filing Bloomberg
- 99 Cents Only Stores to liquidate Chain Store Age
- End of an Era: 99 Cents Only Stores to Permanently Close All 371 Locations Victor Valley News - VVNG
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