99 Cents Only Stores to Close All 371 Locations
Tough Times for Dollar Store Chains in the US
The operators of 99 Cents Only Stores announced late Thursday that they would close all 371 locations. This news comes amidst a challenging time for dollar store chains in the United States, with Family Dollar recently announcing the closure of nearly 1,000 stores.
In a statement, Dollar Tree, Inc., the parent company of 99 Cents Only Stores, said that the closures were part of a strategic decision to focus on its core business.
Dollar Tree has acquired leases for 170 of 99 Cents Only's stores. The remaining 201 stores will be closed, resulting in the loss of approximately 4,000 jobs.
Conclusion
The closure of 99 Cents Only Stores is a significant loss for shoppers who rely on the chain for affordable groceries and household goods. It also raises concerns about the future of dollar store chains in the United States, as they continue to face challenges from rising costs and competition from larger retailers.
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