All articles tagged with #99 cents only
Dollar Tree has acquired leases for 170 stores from the bankrupt 99 Cents Only chain in Arizona, California, Nevada, and Texas. These stores will reopen under the Dollar Tree brand starting in the fall, marking a significant consolidation in the retail industry. This acquisition allows Dollar Tree to expand its presence on the West Coast more cost-effectively than building new stores.
Dollar Tree has acquired the rights to 170 shuttered 99 Cents Only stores across Arizona, California, Nevada, and Texas, and plans to reopen them under the Dollar Tree brand as part of its growth strategy. The acquisition provides access to high-quality retail locations and aims to attract former 99 Cents Only customers. The re-openings are expected to begin as early as this fall.
Dollar Tree has acquired leases for 170 stores from the bankrupt 99 Cents Only chain in Arizona, California, Nevada, and Texas, and will reopen them under its own brand starting in the fall. This move allows Dollar Tree to expand its presence on the West Coast more cost-effectively.
Dollar Tree has acquired the rights to 170 99 Cents Only store locations across Arizona, California, Nevada, and Texas, with most in Southern California. This acquisition follows 99 Cents Only's bankruptcy and closure of over 300 stores. Dollar Tree plans to reopen many of these locations as part of its growth strategy.
The city of Los Angeles will provide informational resources to 99 Cents Only workers affected by the impending store closures, aiming to support those who work at the company’s more than 30 stores in the city. The discounter, which operates 371 outlets in several states, announced its closure after 42 years, citing various factors including the COVID-19 pandemic, crime, competition, and operating cost increases. L.A.’s Economic and Workforce Development Department has activated its Rapid Response Team to assist affected workers, offering virtual presentations and access to WorkSource Centers for employment opportunities. Going-out-of-business sales are expected to end on April 19.
99 Cents Only, the iconic discount store chain, is liquidating all 371 of its stores after struggling with the impact of the COVID-19 pandemic, escalating theft and crime, competition, high inflation, and significant minimum-wage jumps. The company, known for its 99-cent price point, faced operational challenges and debt after being sold to private equity firms in 2011. Despite efforts to find a buyer, the chain filed for Chapter 11 bankruptcy protection and is now conducting going-out-of-business sales. The fall of the beloved chain marks the end of an era for the iconic retailer founded by David Gold, known for his bold buying strategies and commitment to offering quality products at a low price.
99 Cents Only stores nationwide have begun a liquidation sale, leading to the closure of all 371 stores across Texas, Arizona, Nevada, and California, including 20 in San Diego County. The company cited financial difficulties and the impact of the COVID-19 pandemic as reasons for the closure, leaving thousands of employees expected to lose their jobs. Shoppers expressed disappointment at the news, and economists noted the impact on the retail sector and the local economy. The closure will reduce options for lower-income individuals who relied on the store for affordable goods.
99 Cents Only stores in Las Vegas and across the U.S. are starting liquidation sales and preparing to close all 400 locations by June, leaving employees shocked and customers saddened by the loss of an affordable shopping option. The closure is attributed to shifting consumer demand and inflationary pressures, impacting stores in Nevada, Arizona, California, and Texas.
Dollar store chain 99 Cents Only is closing all 371 of its locations nationwide, citing financial strains and the impact of the COVID-19 pandemic. The company will begin liquidating its merchandise and real estate, with the interim CEO stepping down as the process begins. The decision comes after months of pursuing alternatives, but the retail environment's challenges, including inflation, shifting consumer demand, and macroeconomic headwinds, have hindered the company's ability to operate.
The discount chain 99 Cents Only is closing all 371 of its stores in the US due to economic pressures, including the impact of the Covid-19 pandemic, shifting consumer demand, and inflationary pressures. The company's decision comes after experiencing a deficit and working with financial and legal advisers to maximize the value of its assets. This announcement follows Dollar Tree's plan to close nearly 1,000 Family Dollar stores, while Dollar General, the largest discount-chain company, continues to expand its presence.
99 Cents Only, the deep discount retailer, is closing all 371 of its stores in the United States, including at least 15 stores in Las Vegas and others in Henderson, North Las Vegas, and Boulder City. Liquidation sales are set to begin, and the company, founded in 1982, is based in Commerce, Calif. The chain had a notable presence in Las Vegas, with its 13th store opening in 2011 and efforts to bring beer and wine sales to the area in 2013.
99 Cents Only, a discount store chain with 317 locations in California, Texas, Arizona, and Nevada, is closing down due to financial difficulties exacerbated by the pandemic, changing consumer demand, and inflation. The company, known for offering a wide variety of items at reasonable prices, will be liquidating its merchandise and assets. Founded in 1982, the stores initially sold items for 99 cents, but had to raise prices in 2008 due to inflation and rising costs. The company was sold in a $1.6 billion buyout in 2011. An official closing date has not been announced.
99 Cents Only stores will be closing all 371 locations in California, Arizona, Nevada, and Texas, with liquidation sales beginning Friday. The decision comes after facing significant challenges in the retail environment, including the impact of the COVID-19 pandemic, shifting consumer demand, inflationary pressures, and other macroeconomic headwinds. The company had explored alternatives but ultimately determined that an orderly wind-down was necessary to maximize the value of its assets.
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.