Derrick (@Derrick_L)

Retail store closures are a #Bidenomics success, in this instance driven by a combination of factors that include, but are not limited to #inflation #RetailTheft and government-imposed wage increases. 99 Cents Only Stores LLC today announced plans to commence an orderly wind-down of its business operations. Sales are expected to begin April 5, 2024 and will be carried out at all 371 of the Company's store locations. #HilcoRealEstate (HRE) is managing the sale of the Company's real estate assets, both owned and leased, in #Arizona, #California, #Nevada, and #Texas. #MikeSimoncic, Interim #CEO of #99Cents said: "Unfortunately, the last several years have presented significant and lasting challenges in the retail environment, including the unprecedented impact of the #COVID19 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." https://www.prnewswire.com/news-releases/99-cents-only-stores-announces-wind-down-of-business-operations-302108746.html