Iconic discount retailer 99 Cents Only stores announced the closure of all 371 locations in California, Arizona, Nevada, and Texas. The decision comes as a result of numerous challenges, including the impact of COVID-19, shifting consumer demand, and inflation.
Interim CEO, Jack Sinclair, expressed his sadness over the closure, stating that the company explored various alternatives but ultimately decided on an orderly wind-down. Liquidation sales are set to begin this Friday, offering customers a chance to stock up on their favorite products at discounted prices.
Many customers have expressed their disappointment over the closure, citing the affordability and convenience that 99 Cents Only stores provided. Los Angeles County Supervisor Janice Hahn has offered her support for displaced workers, acknowledging the impact this will have on the local community.
In a bid to handle the merchandise liquidation, 99 Cents Only stores have partnered with Hilco Real Estate. The company, founded in 1982, has been a staple in the discount retail industry for nearly four decades.
As the doors close on these beloved stores, the legacy of 99 Cents Only will be remembered by the countless customers who enjoyed the unique shopping experience it provided.
