News Formal

99 Cents Only chain closing all 371 locations nationwide

  • 📰 FoxBusiness
  • ⏱ Reading Time:
  • 11 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 8%
  • Publisher: 53%

Business Business Headlines News

Business Business Latest News,Business Business Headlines

The California-based dollar store chain 99 Cents Only is closing all of its retail locations nationwide due to financial burdens that have forced the company to liquidate its stock and real estate.

One of the nation's major dollar store chains is shutting down the vast majority of its locations due to financial strains. 99 Cents Only shops will begin shuttering its hundreds of locations on Friday as the company moves toward total liquidation.

"This was an extremely difficult decision and is not the outcome we expected or hoped to achieve," said the company's Interim Chief Executive Officer of 99 Cents Only Stores Mike Simoncic.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 458. in BUSİNESS

Business Business Latest News, Business Business 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 to Close All 371 Stores99 Cents Only Stores announced plans to wind down operations and liquidate merchandise. Hilco Global will handle the liquidation process, while Hilco Real Estate will manage the sale of the company's real estate assets. Chris Wells has been appointed as Chief Restructuring Officer.
Source: News4SA - 🏆 251. / 63 Read more »

99 Cents Only to close all 371 stores and wind down its businessThe City of Commerce deep-discount retailer, for years one of the few true 'dollar' stores, calls it quits after more than four decades.
Source: L.A. Times Health - 🏆 364. / 59 Read more »