BUST: When 99 Cents Goes to Zero

Making change takes on a whole new meaning, as 99 Cents Only stores, a MULO (multi-location) business with close to 400 stores in four Southwestern states, will close down all its locations and liquidate its inventory.

The brand, founded in 1982, was known for pricing all its goods at under $1, a novelty at the time. But inflation, the pandemic, crime, and a wide range of shopping alternatives have put tremendous financial pressure on the operation.

The liquidation will be handled by Hilco Global. They are responsible for selling all merchandise, fixtures, furnishings, and equipment.  Hilco Real Estate will sell the brand’s real estate assets in Arizona, California, Nevada, and Texas.

The news comes on the heels of the demise of Family Dollar and Dollar Tree, which closed 1,000 stores.

Although research shows that consumers still love bargains, coupons, and deals, they can now find them in many ways beyond the traditional discount store.

Just Google “Discounts Near Me,” and you’ll find a wide range of ways to save money on your favorite (or new) brands.

So, even if they may wind up spending more than 99 cents in the future, consumers will still find options for saving money.