‘Everything must go!’ say signs for 99 Cents Only Stores going bankrupt as it sells off its remaining stock.
And it is: while shoppers, many loyal customers who support their favorite store and others rushing to find a bargain, empty the shelves.
The West Coast brand, which has stores in California, Texas, Arizona and Nevada, announced last week that its 371 stores would close, although it did not give a timeline for the closure.
Meanwhile, local officials are organizing efforts to save the hundreds of workers affected by the decision.
Angry customers blame Gavin Newsom, the governor of California, a state with 265 of the stores, for high taxes and minimum wages that store bosses cannot afford to pay.
Loyal shoppers are flooding 99 Cents Only stores as the chain prepares to close operations. Pictured: A store in Torrance at 5130 W 190th Street this week
Buyer Andre Montoya told Fox 5 San Diego, “It’s a big place, so it’s a little disturbing.” Pictured: Shoppers taking advantage of last-minute deals at a Redondo Beach store this week
The West Coast brand, which has stores in California, Texas, Arizona and Nevada, announced last week that its 371 stores would close, although it did not give a timeline for the closure. Pictured: The first 99 Cents store opened on La Tijera Boulevard
DailyMail.com visited several stores in California, many of which were plastered with “store closing sale” signs. Pictured: 99 Cents Only on W Pico Boulevard
Many shelves seemed completely empty of all their products, while a freezer was also completely empty. Pictured: A store on West Pico Boulevard in Los Angeles.
DailyMail.com visited stores in California this week, representing 265 of the stores, and found them with “store closing sale” signs.
Shoppers were seen queuing en masse with shopping carts full of discounted products.
Many shelves seemed completely empty of all their products, while a freezer was also completely empty.
Other stores had signs saying, “Everything must go!”
Discussing the closure of 99 Cents while he went to the Santa Ana store in California to buy batteries, Rick Juarez, 53, a long-time customer, told the Los Angeles Times: ‘I blame [Gavin] Newsom. Too many taxes, too high minimum wage. These companies simply cannot compete and therefore have to close.
TikTok users also took to the video-sharing app to mourn the store’s closure.
“And it’s the poor like us who end up suffering.”
Similarly, Víctor Barrios, 38, told the outlet: ‘This must remain open.
‘I earn a lot of money and shopping here helps me. But imagine if you are in [special supplemental nutrition program for women, infants and children] WIC?
‘If you are on Social Security? You need a place like this. Are people supposed to go to Ralphs now? Or objective? With what money?
Buyer Andre Montoya told Fox 5 San Diego, “It’s a big place, so it’s a little disturbing.”
Montoya bought “everything they have,” adding “for me it’s a one-stop shop.”
Fellow fan Don Burt said: “I’m very disappointed.”
DailyMail.com visited several stores in California, many of which were plastered with “store closing sale” signs.
Shoppers were seen queuing en masse with shopping carts full of discounted products.
Many shelves seemed completely empty of all their products, while a freezer was also completely empty.
Other stores had signs saying, “Everything must go!”
It was reported earlier this week that Pic ‘N’ Save Bargains CEO Mark Miller hopes to save around half of the stores, but a deal has yet to be reached. Pictured: An empty freezer at 11040 West Pico Boulevard in Los Angeles
Fan Don Burt said: “I’m very disappointed.” Pictured: A store in Redondo Beach
99 Cents Only was founded in 1982 and developed a cult reputation among bargain hunters for selling all of its items, including televisions, for just 99 cents. Pictured: a store in Torrance.
Shopper Victor Barrios said: ‘This should stay open. I make a lot of money and shopping here helps me.’ Pictured: a store in Torrance.
99 Cents Only was founded in 1982 and developed a cult reputation among bargain hunters for selling all of its items, including televisions, for just 99 cents.
In explaining the reason for the closures, interim CEO Mike Simoncic cited the “unprecedented impact of the COVID-19 pandemic, shifting consumer demand, increasing levels of contraction and persistent inflationary pressures.”
Retailers use the term “shrinkage” to refer to the value of goods that are lost or stolen in the store.
It was reported earlier this week that Pic ‘N’ Save Bargains CEO Mark Miller hopes to save around half of the stores, but a deal has yet to be reached.
While all chains have been affected by inflation, which rose to 3.5 percent in March, budget brands are hardest hit due to their already tight margins.
Rival retailer Dollar Tree recently announced plans to close nearly 1,000 stores while raising its price cap.
While all chains have been affected by inflation, which rose to 3.5 percent in March, budget brands are hardest hit due to their already tight margins. Pictured: a store in Torrance.
In explaining the reason for the closures, interim CEO Mike Simoncic cited the “unprecedented impact of the COVID-19 pandemic, shifting consumer demand, increasing levels of contraction and persistent inflationary pressures.” Pictured: a store in Torrance.
It comes as local politicians are stepping up in support of affected workers now facing unemployment. Pictured: a store in Torrance.
Los Angeles City Councilman Tim McOsker called for a rapid response team to help workers with unemployment insurance benefits and job placement. Pictured: a store in Torrance.
It comes as local politicians are stepping up in support of affected workers now facing unemployment.
the Angels City Councilman Tim McOsker has called for a rapid response team to help workers with unemployment insurance benefits and job placement.
Similarly, Los Angeles County Supervisor Janice Hahn plans to introduce a motion to explore ways the county can help displaced workers with short-term assistance, job training and support in finding new employment opportunities. .
“I am concerned about the thousands of 99 Cents store workers across Los Angeles County who will lose their jobs, but Los Angeles County is ready to help,” Hahn said in a statement.