CALIFORNIA – Since 99 Cents Only Stores’ April 4 announcement that all 371 stores were permanently closing, efforts are now underway to keep stores located in Southern California open.
Pic ‘N’ Save Bargains CEO Mark J. Miller and a group of investors are hoping to move very fast to acquire the 143 stores. He believes it is crucial to the communities of Southern California that 99 Cents Only stores continue to exist.
“This group of customers is priced out of other chains,” Miller told LA Magazine. “It stretches their buying power. Especially today. That’s why this is a passion for me.”
Miller said he would close the stores for about 90 days after the going-out-of-business sale. He says he would win customers back by returning the shopping experience to the “treasure hunt” style that made 99 Cents Only and other bargain stores popular.
“It’s a passion for me to try and do this deal because I think it’s such an iconic brand name and has such a great feel for Southern California,” said Miller.
99 Cents Only permanently closing
99 Cents Only Stores announced a going-out-of-business sale with up to 30% off, starting April 5, at all of its 371 locations. Store items, furniture, equipment and store locations are up for sale.
The company said the impact of the COVID-19 pandemic, shifting consumer demand, rising levels of shrink, persistent inflationary pressures and other macroeconomic headwinds, have greatly hindered the company’s ability to operate.
RELATED: 99 Cents Only Stores to permanently close all 371 locations
