99 Cents Only Stores Closes 371 Locations, Holds Massive Liquidation Sale

NEWS & TRENDING - SHOPPING & DEALS NEWS
Discount retailer 99 Cents Only Stores announced it is shutting down operations and will be holding liquidation sales at its locations.
Updated May 2, 2024
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99 Cents Only Stores storefront and parking lot in Houston TX

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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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End of an era?

Walter Cicchetti/Adobe 99 Cents Only Store sign.

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.

Liquidation Sales

Brenda Blossom/Adobe Woman holding 99 Cents Only Stores shopping bag.

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 In this photo illustration the 99 cents store logo is seen displayed on a smartphone

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.

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371 stores across four states

Tada Images/Adobe 99 Cents Only Stores sign is seen at one of its stores in Huntington Beach, California.

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 Vegetables on top of 99 Cents Only Stores shopping bag. Supermarket. Grocery Store.

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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Author Details

Maneesha Tiwari With more than seven years of experience managing content and editorial teams, Maneesha is passionate about news and how to help her audience navigate the ever-changing landscape of personal finance. She previously served as a journalist for Reuters, where she covered the stock market.

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