99 Cent Stores Shutting Down After 42 Years Due to Inflation and Theft

99 Cent Only Stores, a discount chain with 371 locations, is shutting down all its stores due to unmanageable inflation and theft
The company cited the impacts of COVID-19, shifting consumer demand, high inflation, and increased shoplifting as reasons it can no longer operate
Stores began liquidating inventory and closing on Friday as part of an "orderly wind-down"
99 Cent Only Stores had just celebrated its 42nd anniversary before deciding to close
The chain joins other retailers like Dollar Tree and Macy's in closing locations due to economic pressures