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.
“99 Cents Only Stores, together with its financial and legal advisors, engaged in an extensive analysis of all available and credible alternatives to identify a solution that would allow the business to continue,” the company said in a press release.
“Following months of actively pursuing these alternatives, the company ultimately determined that an orderly wind-down was necessary and the best way to maximize the value of 99 Cents Only Stores’ assets.”
