In a Thursday announcement, 99 Cents Only Stores revealed plans to permanently close all 371 of its stores after over four decades in operation.
99 Cents Only Stores has made the decision to shutter all 371 of its stores and commence the winding down of its business operations, bringing an end to a legacy spanning over four decades, as announced by the company on Thursday."This was an extremely difficult decision and is not the outcome we expected or hoped to achieve," interim Chief Executive Mike Simoncic said in a statement.
With locations spanning across California, Arizona, Nevada, and Texas, 99 Cents Only Stores boasts a workforce of approximately 14,000 employees. The privately-held company revealed that it has struck a deal with Hilco Global to oversee the liquidation of all merchandise and the disposal of fixtures, furnishings, and equipment across its stores. Sales are slated to commence on Friday.
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