The operators of 99 Cents Only stores, based in Commerce, declared the closure of all 371 outlets, with sales to liquidate inventory starting today.
This decision will affect all store locations in California, including the stores on La Brea and Fairfax just outside of WeHo city limits, as well as Arizona, Nevada and Texas.
The company expressed deep appreciation for its employees, customers, partners, and the communities that have supported the 99 Cents Only stores over the years.
In partnership with Hilco Real Estate, the company will manage the sale of all goods, as well as certain fixtures, furnishings, and equipment in the stores.
Established in 1982, the 99 Cents Only stores are a longstanding enterprise.
Officials from the company consulted financial and legal advisors to seek alternatives to keep the business running.
“However, after months of exploring these options, we concluded that an orderly shutdown was necessary and the best approach to maximize the value of the assets of 99 Cents Only Stores,” the company said in a statement.
hey idiot.
all the places where they where stupid enough to let the criminals
pas that law, most people are loosing thier jobs
only a complete idiot believes inflation is only 3.2 percent.
hey moron, the cost of living going up…IS INFLATION.
which is from gvmnt policy and interventio, like taxes regs, and excessive spending and borrowing, which ends up more money to printed and put into circulation.
the 3.2 %, is from the CPI index, which removed food, and gas under bill clinton.
real inflation of the things you use everyday is is more like 30-50 %
People in comments incorrectly use “inflation” when they simply mean the cost of living naturally rises over time. I’m sorry that the toilet paper you’ve been paying 99 cents for since 1987 now costs more to make in 2024, but that’s life. My grandfather used to tell me candybars were a nickel. This will never change. But “inflation” is a specialized term which has become weaponized by politics – and the current rate of U.S. inflation happens to be a low 3.2%. In fact, it’s the lowest of all the world’s industrialized nations. Stop saying “inflation” when you mean standard… Read more »
It’s unfortunate these stores are closing because many low income households counted on them for basic necessities. The truth is with inflation it’s nearly impossible to sell anything for $.99. They also failed to take the approach of other dollar stores like Dollar General and offer a large selection of products for more than $1. This really hurt them. Another reality is they were having a very difficult time finding workers. They now found themselves competing for low wage workers at fast food restaurants where someone could work for $20/hour. Places like $.99only cannot compete with those wages. Businesses will… Read more »
I’m not sure if people realize yet how depressing this news is on many levels. I recall there used to be some kind of city free bus that many poor and destitute Wehoans would take over to the store on La Brea (in the city of Los Angeles), which allowed them to survive. They could buy aspirin, cold medication soap etc. for just 99 cents. Now that this option will be soon gone, the City will surely have to shell out more money for the loyal voters all the city council has invited to live in our expensive town. So… Read more »
Yes, blame the $20 minimum wage on 99c only stores closing their 371 stores. Then again, the people lucky enough to earn that minimum would now have MORE disposable income to spend in those and other stores.
Rite Aid is closing 77 stores but the one on Sunset (in WeHo) will remain open.
CVS is closing some Minute Clinics.
Seems to me that the “free enterprise” capitalist system is actually to blame for cuts/bankruptcies, or closures of three national/regional chain stores w/multiple hundreds of locations, not the Communists, Marxists, and WeHo paying a barely livable wage now..
They are closing all of their stores. Please don’t spread lies here.
Which of the three major store closure numbers is the supposed lie?
The government has No accountability ! They’re literally using the homeless to steal and bankrupt stores and destroy neighborhoods ! all of this affects the residents and business owners,Not the federal-state governments ! SMH !
Although a lot of the merch had Prop 65 warning labels, one could always find some organic produce, high quality organic protein powders, organic herbs and even organic milk and eggs! I’m sure this news is devastating to many, as this chain has gotten so many low income people through very difficult times, including myself.
I’m sure theft was a major factor. These stores are always in the worst neighborhoods, but those people need an inexpensive store.
No businesses will go into these areas going forward. When shoplifters are not prosecuted this happens. CA is winning the race to the bottom.
So what about the stores closing in Nevada, Arizona and Texas then? Why single out California?
Inflation PLUS the rise in min wage for fast food workers. Sorry but the min wage increase will drive all employees to mandate an increase to a minimum of $20/hr regardless of the industry they work in.
I think we may also have a few Starbucks closures in the works in W. Hollywood.
Um, excuse me.
You forgot the conflict in Israel/Gaza is because of the higher minimum wage!
I think we could solve world peace by paying employees poverty wages for the rest of time!
(this is obviously sarcastic)
LOL. I’ve been hearing of restaurant owners being super frustrated because some of the line cooks used to get < $20/hr and now they are demanding $20++ or they’ll just leave.
Businesses owners are going to be pushed into a corner. Either they’ll have to dig into their pockets and cut down on their profit (I don’t think they will – entrepreneurs start businesses to make $$) or they’ll end up shuttering in the long run due to passing off their increased costs too the consumer. So long many restaurants 🙁
GEG your sarcasm has an element of truth to it. Certainly the offshoring of our tax dollars to fund endless foreign wars hasn’t helped everyday Americans grappling with extreme inflation (no matter the statistical tricks the Biden admin uses to hide it) and record cost of living vs real wages.
The 99 cent/Dollar store phenomenon has run its course. Earlier this year, Charlotte NC based Family Dollar announced it is closing almost 1000 stores. Walmart, Costco and Target are just to strong and let’s be honest, there is little merchandise in these dollar stores that are a dollar anymore.