Inflation Cripples 99 Cent Only Stores: 371 Locations Shut Down Due to Rising Theft and Unmanageable Prices
Los Angeles, California – The iconic 99 Cent Only Stores chain, with 371 locations across four states, is facing closure due to insurmountable challenges surrounding inflation and theft. Interim CEO Mike Simoncic expressed deep regret over the difficult decision to shut down the beloved discount retailer, citing a combination of factors such as the lingering effects of the COVID-19 pandemic, shifting consumer preferences, and the increasing instances of shrinkage from theft and other sources. Simoncic …