99 Cents Only Stores Closing All Locations, Cites Inflation
All 371 locations of the 99 Cents Only stores are shutting down, with company executives blaming the “difficult” decision on such causes as “inflationary pressures.”
The company, which opened its first location in 1982, boasts of having the “lowest price guaranteed” on its website. That claim is soon to be no more, with the operators announcing Thursday that liquidation sales will begin Friday.
An official press release said an “orderly wind-down of its business operations” is starting after entering a plea agreement with Hilco Global “to, among other things, liquidate all merchandise owned by the Company and dispose of certain fixtures, furnishings, and equipment at the Company’s stores.”
The hundreds of stores will begin selling all of their remaining items and equipment before the real estate itself is sold by Hilco Real Estate.
The company’s locations span across Arizona, California, Nevada, and Texas. (Read more from “99 Cents Only Stores Closing All Locations, Cites Inflation” HERE)
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