'99 Cents Only' stores shuttering all locations, citing 'inflationary pressures'

of the company’s inventory and eventual sale of properties. Company leaders attributed the decision to recent difficulties in running a retail business.

This was an extremely difficult decision and is not the outcome we expected or hoped to achieve," Mike Simoncic, Interim Chief Executive Officer of 99 Cents Only Stores said.

The store says it worked with financial and legal experts to avoid such a closure, but determined a “wind-down” was its only feasible option.last week the country’s current “inflationary spiral” can be traced back to COVID-19, describing the trillions of dollars the government issued throughout the pandemic. This, he noted, should not be pinned on President Joe Biden, but rather his predecessor, former President Donald Trump.

Source: Law Daily Report (lawdailyreport.net)

Donald Trump Texas United States California United States United States Nevada United States 99 CENTS ONLY STORES LLC Hilco Global Joe Biden Arizona United States Bill Maher 99 Cents Only Stores Mike Simoncic Business_Finance Donald J. Trump JACKSON WALKER LLP HRE OCEAN BLVD LLC COVID-19 Pandemic

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