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If you're one of the millions of budget-conscious shoppers who relied on the 99 Cents Only Stores to save money shopping, brace yourselves: the discount retailer announced today that it will be closing its doors permanently.
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The California-based discount chain, which has been struggling of late, cited persistent inflation post-pandemic and shifting consumer tastes as some of the reasons for its decision to shut shop.
This announcement comes after their attempt to sell assets stalled, putting a strain on the company's cash flow.
Starting April 5, all 371 stores across California, Texas, Arizona, and Nevada will begin liquidation sales, 99 Cents Only Stores said in a statement.
This usually means deep discounts on everything from household essentials to seasonal items.
A storied history of bargains
Игорь Головнёв/Adobe
99 Cents Only Stores have a long history of serving up incredible deals. Founded in the 1960s, the story began with a simple idea by founder Dave Gold.
He inherited a liquor store in Los Angeles and decided to experiment by selling bottles of wine for just 99 cents each. The test was a hit, and soon Gold was selling everything in his store for the same price.
371 stores across four states
Tada Images/Adobe
The promise of rock-bottom prices on everything from everyday needs to party decorations resonated with customers, and 99 Cents Only Stores boomed into a retail powerhouse.
With 371 outlets spread across four states, it became a go-to destination for bargain hunters.
The stores expanded their offerings beyond just household essentials, venturing into fresh produce, seasonal items, and even party supplies. While the name implies everything costs 99 cents, the retailer now offers a wider range of prices, though they typically end in $.99.
Bottom line
Brenda Blossom/Adobe
The beloved 99 Cents Only Stores will be closing their doors permanently. While a challenging chapter comes to an end, liquidation sales starting April 5th offer one last chance to save on everyday essentials before the stores disappear for good.
Editor's Note: Generative AI tools helped write this story.
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