99 cents only calls it quits

[reymann]

99 cents only has made the announcement that they are going to ramp down operations and liquidate all of their stores.

[HCal]

Yet another victim of a greedy leveraged buyout.

[SamSpade]

Hilco is secured, according to the LA Times report. 14,000 people will lose their jobs.
99 Cents Only to close all 371 stores and wind down its business

[pseudo3d]

Yet another victim of a greedy leveraged buyout.

Pretty difficult to call it "99 Cents Only" when inflation takes hold.

[ClownLoach]

Yet another victim of a greedy leveraged buyout.

Pretty difficult to call it "99 Cents Only" when inflation takes hold.

When they were selling kids Power Wheels toys for $300 last Christmas season I was questioning their decisions.

[reymann]

i know grocery outlet is eyeballing the 99 cents only site at first & bullard in fresno and the property management at the one on kings canyon were ready for them to leave with renovations to the shopping center and el super coming it will make remodeling work better.

[rwsandiego]

Like so many stores, 99 cents only used to be a fun place to shop. Stores were clean and it was like going on a treasure hunt. Within the last ten years, the stores became a little messier and the "finds" were fewer and farther between. Recently, their stores were downright messy and anything but fun to shop. So, why shop there?

[Alpha8472]

I liked 99 Cents years ago too. It was fun to find such cheap little bargains. However, their stores are horrendously messy now.

I am sad to see them go, but only due to the fact that many areas will be dominated by Dollar Tree from now.

[storewanderer]

Wow. I never expected the whole chain to close. I expected them to close TX/NV/AZ and retreat back to CA.

This is very significant. A number of these stores are in somewhat underserved areas.

Store conditions have been awful in TX/NV/AZ for quite some time. But the CA operation has always looked better.

In recent weeks in Reno/Sparks/Carson City their produce was better stocked but the dry grocery shelves had been getting quite light of inventory and I was wondering what was going on. Reno and Sparks both have backrooms that are so full of product that you can't walk through them so I was assuming they just had no labor to stock shelves and all the groceries were back there.

The Reno/Sparks stores stink inside and are so filthy. They are extremely messy. The employees... I will just not even comment but these stores seem run worse than a Dollar Tree which is like rock bottom operations, so I have the impression they pay minimum wage at the most. But it has been this way for a couple years in these stores.

Also they announced this late this afternoon and liquidation sales start tomorrow morning...?

I'll miss 99 Only but they really went downhill in recent years.

[BillyGr]

Also they announced this late this afternoon and liquidation sales start tomorrow morning...?

Maybe this is the "missing link" for those sign people that looked like they were connected to Rite Aid?

Thus, they had an idea it might very well happen and that is why they wanted people ready to go since it would be starting very quickly?