The Commerce-based operators of 99 Cents Only stores announced today they will shutter all 371 of its locations, with liquidation sales set to begin Friday.
The Commerce-based operators of 99 Cents Only stores announced today they will shutter all 371 of its locations, with liquidation sales set to begin Friday. "This was an extremely difficult decision and is not the outcome we expected or hoped to achieve," interim company CEO Mike Simoncic said in a statement.
"Unfortunately, the last several years have presented significant and lasting challenges in the retail environment, including the unprecedented impact of the COVID-19 pandemic, shifting consumer demand, rising levels of shrink, persistent inflationary pressures and other macroeconomic headwinds," We deeply appreciate the dedicated employees, customers, partners, and communities who have collectively supported 99 Cents Only Stores for decades." According to the company, it has partnered with Hilco Real Estate to facility a liquidation of all merchandise, along with "certain fixtures, furnishings and equipment at the company's stores
99 Cents Only Stores Closure Liquidation Retail COVID-19 Pandemic
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