California-based 99 Cents Only Stores says it will close all 371 of its outlets effective Friday.
FILE - Jacques Elsair shops at a 99 Cents Only Store, on Sept. 8, 200, in Los Angeles. California-based 99 Cents Only Stores announced it will close all 371 of its outlets effective Friday, April 5, 2024, the company said, ending a 42 year retail run of selling nothing but items priced just under a dollar. – California-based 99 Cents Only Stores said Friday it will close all 371 of its outlets, ending the chain's 42-year run of selling an assortment of bargain-basement merchandise.
“This was an extremely difficult decision and is not the outcome we expected or hoped to achieve,” said Simoncic, who will be stepping down. “Unfortunately, the last several years have presented significant and lasting challenges in the retail environment.” “I realized it was a magic number," he told the Times. “I thought, wouldn’t it be fun to have a store where everything was good quality and everything was 99 cents?"
Gold became a multimillionaire but lived modestly. His family told the Times he lived in the same middle-class home for nearly five decades with his wife of 55 years and drove the same Toyota Prius he purchased in 2000.
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