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99 Cents Only Stores to close all locations
NBC Los Angeles ^ | April 4, 2024 | City News Service

Posted on 04/04/2024 6:56:08 PM PDT by chrisinoc

The Commerce-based operators of 99 Cents Only stores announced today they will shutter all 371 of its locations, with liquidation sales set to begin Friday.

The move will impact all company locations in California, Arizona, Nevada and Texas.

"This was an extremely difficult decision and is not the outcome we expected or hoped to achieve," interim company CEO Mike Simoncic said in a statement. "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.

(Excerpt) Read more at nbclosangeles.com ...


TOPICS: Business/Economy; Local News
KEYWORDS: anarchy; bidenflation; bidenlegacy; california; chaos
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Welcome to Brandon's America.
1 posted on 04/04/2024 6:56:08 PM PDT by chrisinoc
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To: chrisinoc

That’s too bad.

Dollar Tree is Dollar Twenty Five Tree now.

They could have tried 125 Cents.


2 posted on 04/04/2024 6:58:01 PM PDT by E. Pluribus Unum (The worst thing about censorship is █████ ██ ████ ████ ████ █ ███████ ████. FJB.)
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To: chrisinoc

They priced themselves out of business, Walmart was cheaper for most things needed everyday.


3 posted on 04/04/2024 7:00:29 PM PDT by Openurmind (The ultimate test of a moral society is the kind of world it leaves to its children. ~ D. Bonhoeffer)
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To: chrisinoc
Covid didnt crush the economy. Government crushed the economy.
4 posted on 04/04/2024 7:02:08 PM PDT by BenLurkin (The above is not a statement of fact. It is either opinion, or satire, or both.)
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To: chrisinoc

500 cents stores coming soon!


5 posted on 04/04/2024 7:03:38 PM PDT by Mark (DONATE ONCE every 3 months-is that a big deal?)
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To: chrisinoc

> rising levels of shrink <

In other words, shoplifting.


6 posted on 04/04/2024 7:05:41 PM PDT by Leaning Right (The steal is real.)
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To: BenLurkin

That’s right, it was all part of the plan to turn America into a Marxist banana 🍌 republic.


7 posted on 04/04/2024 7:07:34 PM PDT by No name given (Anonymous is who you’ll know me as)
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To: Leaning Right
> rising levels of shrink <

And now they have a 99 Cent Only desert.

8 posted on 04/04/2024 7:12:08 PM PDT by E. Pluribus Unum (The worst thing about censorship is █████ ██ ████ ████ ████ █ ███████ ████. FJB.)
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To: chrisinoc
Ebb and flow, some people do well, others not. There still is tons of suckers and money out there. No recession, yet.


9 posted on 04/04/2024 7:13:02 PM PDT by Theoria
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To: chrisinoc

“Best economy ever jack, no joke! Ya don’t believe me, let’s go out behind a gym so I can teach ya somethin. What, ya wanna do a push-up contest?”


10 posted on 04/04/2024 7:15:27 PM PDT by Newtoidaho (All I ask of living is to have no chains on me.)
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To: chrisinoc

99 Cents Only - sounds like a dead rapper


11 posted on 04/04/2024 7:19:15 PM PDT by NWFree (Sigma male 🤪)
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To: chrisinoc

(rising levels of shrink)

Constant theft by perpetually-entitled lowlife folks


12 posted on 04/04/2024 7:25:41 PM PDT by SaveFerris (Luke 17:28 ... as it was in the Days of Lot; They did Eat, They Drank, They Bought, They Sold ......)
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To: Leaning Right

That’s what jumped out at me as well.


13 posted on 04/04/2024 7:44:27 PM PDT by FreedomPoster (Islam delenda est)
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To: chrisinoc

They were like Dollar Tree with produce. We will miss them. They are a big deal in Phoenix.


14 posted on 04/04/2024 7:45:58 PM PDT by Dr. Sivana
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To: chrisinoc

I made a few bucks off this stock back when it was publicly traded, thanks to it being taken private. My guess is the private equity firm that bought it took on too much debt so as to goose returns. A sad end to a 40-year-old company. It would likely have survived as a public company without the additional debt. Big Lots is similarly cash strapped thanks to management feathering its own nest by doing large debt-fueled stock buybacks. The interest expense is now throttling the company’s margins.


15 posted on 04/04/2024 7:48:04 PM PDT by Zhang Fei (My dad had a Delta 88. That was a car. It was like driving your living room)
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To: chrisinoc

I’m certain Bidenomics had nothing to do with the closure of these stores... absolutely nothing...sarc.....


16 posted on 04/04/2024 7:49:49 PM PDT by Kevin in California (EP)
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To: Zhang Fei

Warren Buffet says private equity is a scam. So many stories of struggling chains going Chapter 11 soon after going private due to high debt repayment. Only the suits and lawyers make out in the deals.


17 posted on 04/04/2024 8:36:27 PM PDT by who_would_fardels_bear (What is left around which to circle the wagons?action )
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To: who_would_fardels_bear

Of course it is. You are playing poker with someone else’s chips.


18 posted on 04/04/2024 8:38:14 PM PDT by crusty old prospector
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To: E. Pluribus Unum

All the words they used to explain the closing of MANY stores could have been summed up in one word & I think most folks know what word that is.


19 posted on 04/04/2024 8:41:27 PM PDT by oldtech
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To: chrisinoc

That’s a shame. I shopped at a 99¢ store in Tustin last month when I needed a few things while on vacation. I found everything I needed for half the cost I expected. Variety was surprising and quality was decent. I don’t find that to be the case at some of the other “dollar” stores.


20 posted on 04/04/2024 8:53:00 PM PDT by Tellurian (Any cleverness from a democrat is quickly invested in deception)
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