Dollar Store Chain Closing Majority of Locations Due to Financial Issues

Published: 06 April 2024 at 03:17

Business

99 Cents Only stores is closing the vast majority of its 371 locations and moving towards total liquidation due to financial strains exacerbated by factors like inflation, crime, shifting consumer demand, and the impact of the COVID-19 pandemic.

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99 Cents Only Stores (Wikipedia)

99 Cents Only Stores (also branded as The 99 Store, and 99¢ Only Stores) is an American price-point retailer chain based in Commerce, California. It offered "a combination of closeout branded merchandise, general merchandise and fresh foods." The store initially offered all products for 99¢ or less. The base price became 99.99¢ in 2007 and products were later introduced at higher prices. Founded by Dave Gold in 1982, the retailer chain has locations in California, Arizona, Nevada, and Texas. The company also operates Bargain Wholesale, which sells wholesale to retailers across the United States and exports to more than 15 countries from showrooms in Los Angeles. It also exhibits at trade shows in Las Vegas and Chicago. The company announced all stores would close beginning April 5, 2024 due to financial hardship.