99 Cents Only Stores Files for Bankruptcy, to Close All Locations

The discount retailer's decision comes amid economic challenges and shifting consumer demands.

99 Cents Only Stores has filed for Chapter 11 bankruptcy, signaling the end of its operations across California, Texas, Arizona, and Nevada.
The company plans to conduct going-out-of-business sales at its 371 locations, aiming to sell its real estate and remaining inventory.
The bankruptcy filing comes as a result of persistent inflationary pressures, shifting consumer demand, and the impacts of the COVID-19 pandemic.
99 Cents Only has secured significant bankruptcy loans to support its wind-down process, totaling over $96 million.
The closure of 99 Cents Only Stores reflects broader challenges faced by discount retailers, including competition from online sellers and shifting consumer spending habits.