99 Cents Only Stores to Close All 371 Locations, Wind Down Business

After more than 40 years in business, 99 Cents Just Stores announced on Thursday that it would locked down all 371 of its sites.
The 1982-founded discount store said it made the decision after conducting” an intensive research” of the options open to it with its financial and legal advisors in order to keep running.
The company came to the conclusion that” an orderly wind-down” was necessary and the best way to increase the value of its assets after weeks of looking into these choices.
” This was an extremely tough choice and is not the result we expected or hoped to achieve”, Mike Simoncic, time chief executive officer of 99 Cent, said in a media launch….

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