In a press release issued on April 4th, officials from the 99 Cents Only Stores discount chain, established in 1982, revealed the cessation of their business operations. Citing a multitude of factors, including hurdles within the retail landscape, evolving consumer preferences, the impact of COVID-19, and ongoing inflationary pressures, the decision to shutter operations was deemed necessary.
The closure encompasses all 371 stores spread across California, Texas, Arizona, and Nevada, with a notable concentration of 18 stores slated for closure in the Houston area.
In a strategic move to handle the aftermath of the closure, the 99 Cents Only Stores chain has partnered with Hilco Global to oversee the liquidation of all company-owned merchandise, along with the disposal of fixtures, furnishings, and other equipment. Sales proceedings under this agreement commenced on April 5th, marking the beginning of the end for the once-thriving discount retailer.
For more information, visit www.99only.com.
