99 cents only calls it quits

[CalItalian]

Investor Group Looks to Save the 99 Cents Only stores in Southern California

https://lamag.com/news/investor-group-l ... Ty0buDyKIQ

[CalItalian]

It's on their website. It's on the Facebook page. Up to 30% off. Today.

No sale in Reno this morning. I bought items. Full price. 9 day refund policy still printed on receipt. I'll check later.

Hilco the liquidator press release said sales started today and all sales final from today forward.

Maybe some locations will not be having it and move all of the items to other stores.

No. All locations are open and all are liquidating.

[storewanderer]

No sale in Reno this morning. I bought items. Full price. 9 day refund policy still printed on receipt. I'll check later.

Hilco the liquidator press release said sales started today and all sales final from today forward.

Maybe some locations will not be having it and move all of the items to other stores.

No. All locations are open and all are liquidating.

Any idea what happened to Bargain Wholesale? Website has been killed... I guess that is my answer.

I wonder how much product is still sitting in their warehouse.

The stores in my area were told they are done by June 1.

[Alpha8472]

They may run out of merchandise long before then.

[Bagels]

Investor Group Looks to Save the 99 Cents Only stores in Southern California

https://lamag.com/news/investor-group-l ... Ty0buDyKIQ

I doubt it will happen. I went by three stores in the past two days and each had a huge banner indicating the lease was available for purchase. Looks like the owners are going to squeeze it for every dollar they can.

[ClownLoach]

Investor Group Looks to Save the 99 Cents Only stores in Southern California

https://lamag.com/news/investor-group-l ... Ty0buDyKIQ

I doubt it will happen. I went by three stores in the past two days and each had a huge banner indicating the lease was available for purchase. Looks like the owners are going to squeeze it for every dollar they can.

The element missing here is a bankruptcy filing. That is needed to force an asset auction. But if this guy has enough money backing him he could do exactly what you're saying, buy the leases of every location he wants. Not sure how he would handle getting them to sell the intellectual property including the brand. Obviously the PE bastards that bought them would want to sell the company in the entirety which would include obligations they don't want to take on like the failed Southwestern US expansion territories. They only want SoCal. Since he has been able to get the Pic N Save brand then maybe he could use that name instead. My concern is I've walked the PNS store in Anaheim a few times and it does not have enough merchandise at all, one of those stores that is slick and professionally designed to look pretty in pictures but won't necessarily be profitable. I question how they turn any profit on it.

[storewanderer]

Typically their private labels are distributed by Momentum Brands. It seems like in the hardware area they have transitioned yellow and black packages that used to be distributed by Momentum Brands to identical packages distributed by Tru Forge in Maywood.

But the most odd thing was some reusable mugs in a brand "99 Select" and the only product I've ever seen that said distributed by 99 Cents Only Stores LLC.

I am curious when they shut down Bargain Wholesale and Momentum Brands. The summer items all still say Momentum Brands.