99 Cents Only Stores files bankruptcy; all locations to close
99 Cents Only Store front. (Fox E./Yelp)

99 Cents Only Stores operators have decided to file bankruptcy and liquidate all 371 locations starting Friday. The move comes after persistent challenges that remained well after the coronavirus pandemic.

“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.”

The company opened its first store in 1982.

Both Santa Ana locations are set to close under this liquidation.