"Rival Store CEO Steps in to Save 99 Cents Only Chain from Closure"
TL;DR Summary
Mark Miller, CEO of Pic 'N' Save Bargains, is leading a group of investors to acquire more than 100 99 Cents Only Stores in Southern California, aiming to save them from closure. The decision to close the 371 locations was attributed to high inflation and rising theft. This move comes amidst a wider trend of retail struggles, with major chains like Walmart, Best Buy, and Dollar Tree also facing closures and challenges due to inflation and shifting consumer demand.
Topics:business#99-cents-only-stores#business-retail#inflation#mark-miller#pic-n-save#retail-apocalypse
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