99 Cents Only Stores

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99 Cents Only Stores was an American price-point retailer chain. It is based in Commerce, California. There are stores located in California, Arizona, Nevada, and Texas. It offers "a combination of closeout branded merchandise, general merchandise and fresh foods." It was founded in 1982. In September 2023, 99 Cents Only Stores announced that they sold their Los Angeles County warehouse. In October 2023, Fitch Ratings reported that 99 Cents Only Stores was nearing a potential Chapter 11 bankruptcy filing.

On March 28, 2024, the company warned that it may be forced to file for Chapter 11 bankruptcy within weeks as it faces a liquidity shortfall and a stalled-asset sale. It also began talks referring to liquidation.
On April 4, 2024, 99 Cents Only Stores announced that it would permanently close all of its remaining 371 locations and lay off its 14,000 employees within the coming months, with liquidation sales to be held by Hilco Global. "Going out of business" sales began at all locations on April 5. The company blamed the effects of the COVID-19 pandemic, increasing inflation, and shifting consumer demand.

 History 
In 1960, David Gold thought of a liquor store. He decided that making the liquor 99 Cents to stand out was perfect.

In 1982, David made the first 99 Cents Only Stores in Inglewood, California.

In 1992, the company went public. To celebrate, David made all television sets 99 cents.

 References 

Category:Retail companies of the United States
Category:1982 establishments in the United States