The 99 Cents Only stores are going through a "wind-down" of business operations, resulting in the closure of all 371 store locations. The decision was made due to significant challenges in the retail environment, including the impact of the COVID-19 pandemic and shifting consumer demand.
It's the end of an era: the 99 Cents Only stores are closing down for good.The company announced Thursday it is going through a "wind-down" of business operations . The shutdown will impact all 371 store locations, the company wrote in a statement."This was an extremely difficult decision and is not the outcome we expected or hoped to achieve," said the company's interim CEO Mike Simoncic.
"Unfortunately, the last several years have presented significant and lasting challenges in the retail environment, including the unprecedented impact of the COVID-19 pandemic, shifting consumer demand, rising levels of shrink, persistent inflationary pressures and other macroeconomic headwinds, all of which have greatly hindered the Company's ability to operate. We deeply appreciate the dedicated employees, customers, partners, and communities who have collectively supported 99 Cents Only Stores for decade
99 Cents Only Stores Closure Wind-Down Business Operations Retail Environment COVID-19 Pandemic Consumer Demand
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
99 Cents Only stores closing all 371 locations, liquidation sales starting FridayThe operators of the 99 Cents Only stores announced Thursday they will shut down all 371 of the locations throughout four states, with liquidation sales starting Friday.
Read more »
99 Cents Only to close all 371 of its storesThe retailer will begin liquidating merchandise at its stores beginning April 5.
Read more »
Trader Joe's upped the price of its bananas for the first time in decades. Here's whyTrader Joe's raised its price of bananas from 19 cents to 23 cents each.
Read more »
Trader Joe's upped the price of its bananas for the first time in decades. Here's whyTrader Joe's raised its price of bananas from 19 cents to 23 cents each.
Read more »
Trader Joe's raises banana prices less than a nickel but drops prices on other produce, various productsBananas that previously sold for just 19 cents a piece will now cost 23 cents.
Read more »
Trader Joe's upped the price of its bananas for the first time in decades. Here's whyTrader Joe's raised its price of bananas from 19 cents to 23 cents each.
Read more »