99 CENT ONLY closing

[veteran+]

Dollar Tree is trying to purchase 58 leases. 37 in CA. Includes Reno and Carson City in my area. Dollar Tree can't run the stores they have here, don't know why they think it is a good idea to add any more. Terrible operator. Ugh. Couldn't it be something better- anything better?

Seems there is always another "roach" operator to replace a roach operator.

[storewanderer]

Dollar Tree is trying to purchase 58 leases. 37 in CA. Includes Reno and Carson City in my area. Dollar Tree can't run the stores they have here, don't know why they think it is a good idea to add any more. Terrible operator. Ugh. Couldn't it be something better- anything better?

Seems there is always another "roach" operator to replace a roach operator.

99 Only was in bad shape in recent years but there was one thing going through their bankruptcy document that struck me- about 67% of their employees were full time. This surprised me. This is a surprisingly high percentage for this kind of a format. But they did run them like a quasi-grocery store. They actually had employees assigned to departments/functions like produce, janitorial, receiving, stocking, cashiering, etc. The cashiers only cashiered. The stockers only stocked. etc. These stores like Dollar Tree don't seem to have any of their majority part time employees assigned to anything and it is a complete misrun cluster.

So I don't know. 99 Only was a bit different. I never lumped them in the class with Dollar Tree/Dollar General.

My hope for the locations is a pretty major expansion for various ethnic grocers. Return some of these spaces to being a full service grocery store again as many were former grocery store spaces; seems like the best possible outcome.

[pseudo3d]

Dollar Tree is trying to purchase 58 leases. 37 in CA. Includes Reno and Carson City in my area. Dollar Tree can't run the stores they have here, don't know why they think it is a good idea to add any more. Terrible operator. Ugh. Couldn't it be something better- anything better?

Seems there is always another "roach" operator to replace a roach operator.

99 Only was in bad shape in recent years but there was one thing going through their bankruptcy document that struck me- about 67% of their employees were full time. This surprised me. This is a surprisingly high percentage for this kind of a format. But they did run them like a quasi-grocery store. They actually had employees assigned to departments/functions like produce, janitorial, receiving, stocking, cashiering, etc. The cashiers only cashiered. The stockers only stocked. etc. These stores like Dollar Tree don't seem to have any of their majority part time employees assigned to anything and it is a complete misrun cluster.

So I don't know. 99 Only was a bit different. I never lumped them in the class with Dollar Tree/Dollar General.

My hope for the locations is a pretty major expansion for various ethnic grocers. Return some of these spaces to being a full service grocery store again as many were former grocery store spaces; seems like the best possible outcome.

The format 99 Cents Only tends to run is quite a bit bigger than Dollar Tree, I remember one store in Houston had Dollar Tree replace one but didn't use all the space.

I'm not sure if "returning to grocery store space" is a good idea; most of them seemed to be outdated, small spaces in working-class neighborhoods.

[storewanderer]

The format 99 Cents Only tends to run is quite a bit bigger than Dollar Tree, I remember one store in Houston had Dollar Tree replace one but didn't use all the space.

I'm not sure if "returning to grocery store space" is a good idea; most of them seemed to be outdated, small spaces in working-class neighborhoods.

In SoCal, I think a decent number of them can return to a grocery format but it will be ethnic independent type stores.

In Las Vegas it is a mix and I expect Superior Grocers to pick up multiple locations. Maybe Central California too. Superior wants to do a major expansion and this just gave them the real estate to do it. Whether or not they are successful with this remains to be seen and I have mixed feelings on what I think.

In NorCal/AZ/TX maybe not such great spots to go to grocery conversion.

[bryceleinan]

The format 99 Cents Only tends to run is quite a bit bigger than Dollar Tree, I remember one store in Houston had Dollar Tree replace one but didn't use all the space.

I'm not sure if "returning to grocery store space" is a good idea; most of them seemed to be outdated, small spaces in working-class neighborhoods.

In SoCal, I think a decent number of them can return to a grocery format but it will be ethnic independent type stores.

In Las Vegas it is a mix and I expect Superior Grocers to pick up multiple locations. Maybe Central California too. Superior wants to do a major expansion and this just gave them the real estate to do it. Whether or not they are successful with this remains to be seen and I have mixed feelings on what I think.

In NorCal/AZ/TX maybe not such great spots to go to grocery conversion.

About the only one in Northern Nevada they could convert to any type of grocery is Sparks, possibly Reno. I remember when the Reno store was Wild Oats prior to Whole Paycheck buying them, and Barnes & Noble before that time. I imagine Grocery Outlet won't let another grocer move in next door in Carson, so Dollar Tree is the best we get there, bleh. I still don't see how they make Reno a Dollar Tree, unless they want to be like Harbor Freight and get out of that Kietzke plaza/former Kmart.

[storewanderer]

The format 99 Cents Only tends to run is quite a bit bigger than Dollar Tree, I remember one store in Houston had Dollar Tree replace one but didn't use all the space.

I'm not sure if "returning to grocery store space" is a good idea; most of them seemed to be outdated, small spaces in working-class neighborhoods.

In SoCal, I think a decent number of them can return to a grocery format but it will be ethnic independent type stores.

In Las Vegas it is a mix and I expect Superior Grocers to pick up multiple locations. Maybe Central California too. Superior wants to do a major expansion and this just gave them the real estate to do it. Whether or not they are successful with this remains to be seen and I have mixed feelings on what I think.

In NorCal/AZ/TX maybe not such great spots to go to grocery conversion.

About the only one in Northern Nevada they could convert to any type of grocery is Sparks, possibly Reno. I remember when the Reno store was Wild Oats prior to Whole Paycheck buying them, and Barnes & Noble before that time. I imagine Grocery Outlet won't let another grocer move in next door in Carson, so Dollar Tree is the best we get there, bleh. I still don't see how they make Reno a Dollar Tree, unless they want to be like Harbor Freight and get out of that Kietzke plaza/former Kmart.

99 Only got into that center in Carson City before Grocery Outlet did so I have to think they'd have the most favorable terms if they wanted to be the only grocer there, they'd call that shot? There is also that Hispanic store Hacienda there with full meat/produce/hot food so I don't think that shopping center has any lease restrictions on grocery stores unless Grocery Outlet created it and 99 Only/Hacienda just get grandfathered in?

I guess the Ace Hardware groups missed these lease sales. I'm sure they'd have loved all 3 of the Reno/Sparks/Carson City locations.

I am assuming Dollar Tree will relocate the Kietzke Store to this new location. I guess it is an upgrade... I wonder if that entire Kietzke Plaza is going to get redeveloped once Corwin Ford relocates, you could put the plots together and do something huge. But I'm not sure if Corwin Ford plans to 100% vacate Kietzke...? I heard something about fleet operations staying there?

[storewanderer]

Substantial number of closures happening next Sunday. They are largely done in NorCal by next Sunday. There may be a store or two that lingers open past Memorial Day but I haven't figure out which one(s).

The end is very near.

I tried to buy some fixtures/supplies and was refused at one store, the liquidator said only the items with orange stickers are for sale. Basically just shelving and refrigeration/displays. I really don't understand this liquidation sale. Typically they'll sell anything and everything. I was told no sale of what could be considered store supplies that were unused sitting on boxes on a pallet because "they may need them even after closing to customers." Okay then. Maybe when the landlord does a second liquidation of the contents inside that stuff will be made available.

[HoustonRetail]

According to ads on Facebook, Sunday is the final day for all stores. I haven't inquired directly about fixtures, but I have noticed they're not selling much. Free-standing items seem to be sold while shelving and perimeters are being left alone. Maybe they had a bid for the entire lot of shelving?

[storewanderer]

According to ads on Facebook, Sunday is the final day for all stores. I haven't inquired directly about fixtures, but I have noticed they're not selling much. Free-standing items seem to be sold while shelving and perimeters are being left alone. Maybe they had a bid for the entire lot of shelving?

That is a massive closure round to close everything left on Sunday. I think at least half of the stores are still open.

Shelving was sold at the stores that closed in my area and one store got rid of quite a bit of shelving. I don't think the others sold any shelving.

I have yet to see them sell any "backroom" stuff.

The fixture sales have been strange, especially for Hilco, who usually sells any fixture and supplies including pens and tape dispensers, notepads, used paperclips, etc.

While in the midst of this I did watch a Rite Aid closure sale run by Hilco. They did their drawn out thing. Ran it for what felt like two months. Last time I was there about 9 days ago, the employee told me the store had 10 days left. There was a group there at the store disassembling various shelves and loading them into a U-Haul as they had bought the shelves. They weren't selling supplies yet but everything else fixture-wise was for sale.

This is far different than the hundreds of Rite Aid closures that occurred through 2/2024 where Rite Aid left everything inside except carts, computers, and registers. They could reopen hundreds of stores tomorrow by putting merchandise back on the shelves and bringing in computers/registers (even the shelf tags etc are mostly still up in the closed stores).

[ClownLoach]

According to ads on Facebook, Sunday is the final day for all stores. I haven't inquired directly about fixtures, but I have noticed they're not selling much. Free-standing items seem to be sold while shelving and perimeters are being left alone. Maybe they had a bid for the entire lot of shelving?

That is a massive closure round to close everything left on Sunday. I think at least half of the stores are still open.

Shelving was sold at the stores that closed in my area and one store got rid of quite a bit of shelving. I don't think the others sold any shelving.

I have yet to see them sell any "backroom" stuff.

The fixture sales have been strange, especially for Hilco, who usually sells any fixture and supplies including pens and tape dispensers, notepads, used paperclips, etc.

While in the midst of this I did watch a Rite Aid closure sale run by Hilco. They did their drawn out thing. Ran it for what felt like two months. Last time I was there about 9 days ago, the employee told me the store had 10 days left. There was a group there at the store disassembling various shelves and loading them into a U-Haul as they had bought the shelves. They weren't selling supplies yet but everything else fixture-wise was for sale.

This is far different than the hundreds of Rite Aid closures that occurred through 2/2024 where Rite Aid left everything inside except carts, computers, and registers. They could reopen hundreds of stores tomorrow by putting merchandise back on the shelves and bringing in computers/registers (even the shelf tags etc are mostly still up in the closed stores).

Those Rite Aid self liquidations - I really wonder if they were playing some sort of financial game around asset abandonment or accelerated depreciation so that they could reduce their tax burden.

There doesn't seem to be any more talk of the Pic N Save guy rescuing or resurrecting this chain.

There has been something very "off" about this from day one. I still question the real estate piece as the facts showed that there were some expensive assets available to be monetized. As I mentioned before it is clear that there will be something left here when the closures are done, a holding company shell with money left in it for someone to cash out on. Seemingly few creditors to pay which aligns with the lax effort to get maximum recovery of the assets. Lack of clarity around the larger debts creating the appearance that the notes may be held by the owners and thus they have the opportunity to write off the losses but still cash out the real estate assets. Maybe even more asset abandonment accounting or accelerated depreciation write offs as well. They definitely could get a lot more from the open sites. We have a friend who lives a few blocks from an OC store still open and packed with merchandise, and she was allowed to buy a overflowing cart of any product for $20. She had a kids birthday coming up and jam packed the cart with toys, party supplies etc. And basically got hundreds of dollars of merchandise for $20 and ran the best party any of the parents had ever seen. They could easily extend the sale and get a better recovery but that does not seem to be the priority.