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Financial Strains

All articles tagged with #financial strains

business1 year ago•2 min saved

"99 Cents Only Stores Shutting Down All 371 Locations Across the US"

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.

via Fox Business|

#99-cents-only #business #dollar-store

business2 years ago•1 min saved

Spirit Airlines Implements Buyouts to Reduce Costs for Salaried Employees

Spirit Airlines is offering voluntary exit packages to salaried employees as part of its cost-cutting measures due to ongoing financial strains. The airline has been facing weak off-peak demand and has had to ground aircraft for inspections. CEO Ted Christie stated that tough decisions are necessary to return to profitability, and the voluntary exit program aims to right-size the organization. The move comes as JetBlue Airways attempts to acquire Spirit, a deal currently being challenged by the Justice Department.

via CNBC|

#budget-carrier #business #cost-cutting