Discount retailer 99 Cents Only Stores said they will wind down its operations and liquidate the merchandise and fixtures at all 371 locations.
Last month, the City of Commerce, Calif.-based company, founded in 1982 with an assortment of merchandise priced at 99 cents, warned that it might have to file for bankruptcy protection amid a challenging macro environment.
“This was an extremely difficult decision and is not the outcome we expected or hoped to achieve,” said Mike Simoncic, Interim CEO. “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.”
Dollar-store chains are struggling overall, many of them blaming their downfall on factors like inflation and theft.
Dollar Tree announced in March that it plans to close 1,000 of its 8,000 locations, mostly under the Family Dollar banner.
Dollar General appears to be the outlier; the chain plans to open hundreds of stores this year and said it would yank self-checkouts from stores most affected by shoplifting.
Everything Biden does huts the American worker and American business.
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One has to wonder the wisdom of establishing a fixed price on merchandize and expecting that to be viable decades out.
Nothing ruins the charm and quaintness of rural America like these cookie cutter boxes of rubbish. Sucking money out of small communities and leaving as fast as the armored car can carry it.
Spoken like the mayor of Chicago.
The biggest problem is deciding which Dollar General to shop at – the one at the East end of my street or the one at the West end.
Democrat Party War on Americans continues . My neighborhood discount grocery store just closed. Bidenomics made it impossible to continue. Democrats want small family owned and run businesses to go extinct in favor of mega-corporations that shove $billions into the pockets of Democrat politicians,
BINGO
The word racist is so tiresome any more. Just excuse to get out any situation .
The race card is the new Joker card.