Posted 4/5/2024, 3:55:00 PM
99 Cents Only Stores Closing All Locations Amid Pandemic Impacts, Rising Costs and Theft
- All 371 99 Cents Only Stores are closing down due to inflation, retail theft, and other economic challenges
- The company said the pandemic impacted business but inflation, theft, and broader economic issues were bigger factors
- Bloomberg reported the chain was considering bankruptcy due to liquidity issues
- The company said an orderly wind-down was the best way to maximize assets
- Dollar stores overall are struggling with rising costs and theft issues
