One of America’s favorite bargain destinations, 99 Cents Only, is going out of business.
The discount store announced Thursday that they will close all 371 store locations in California, Arizona, Nevada and Texas with liquidation sales set to start on Friday.
"This was an extremely difficult decision and is not the outcome we expected or hoped to achieve," said Mike Simoncic, Interim Chief Executive Officer of 99 Cents Only Store. "Unfortunately, the last several years have presented significant and lasting challenges in the retail environment.”
Simoncic cited the impact of the COVID-19 pandemic, shifting consumer demand and other economic factors as their reasons to close the iconic discount store.
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