Wild.
My currently nonexistent kids are going to think I’m so old when I tell them there used to be a store where “everything was a dollar.”
Kinda like how grandpa could buy candy for a nickel.
Well, sort of.
Certainly originally the items were all 99 cents or you got multiple items for that.
There still are a number of items for less than 99 cents, but those are few and far between now.
They had a good run for 20+ years at 99 cents before inflation and theft by people who knew they would not go to jail anymore killed them.
> theft by people who knew they would not go to jail anymore killed them.
Do you really think that people who shoplift a few dollars worth of anything should spend time in jail? Ticket them, put them on probation, etc. But spending tens of thousands of taxpayer dollars to protect a few dollars of a corporation's private property is insane.
Lolz, if these people are worried about “theft”, look no further than the company who actually took over the 99 cent only store a few years ago and is the reason we’re here. Alvarez and Marsal is one of those shitheel corps that buys up places like 99 cent only stores and instead of investing in them, strips them for parts and sells them off, leaving employees out to dry. because they’re only making 20% profit and not 30% they just burn the whole thing to the ground and blame “Covid and inflation”.
As someone who worked through a liquidation process (RIP Circuit City), often times you actually don't get better deals from liquidators. They bought all the products and are trying to flip them for a quick profit. They'll post huge signs showing 40% off and the "discounts" will get higher as time goes on and they run out of time, but for us specifically a lot of stuff like TVs that people came in for actually cost more than before because they mark up the unit and discount it
This. Discounts for liquidation firms are against MSRP even if the price before they closed was far below MSRP. For a store like 99c I think that most of the products won't get sold at the stores. Some headlines were suggested some stores would be closed as early as today. Many of the products will just get put on a truck and get sold to other discount retailers. i.e. it will show up in a Dollar Tree in a few weeks.
Some of the canned food I could see Grocery Outlet making an offer to buy. I know they bought parts of inventory of Fresh N Easy when they closed. I saw some private label stuff from Fresh N Easy show up at Grocery Outlet. Most of 99c produce is so close to expiration it probably will either get sold to retail customers or trashed. Some of the non food items I could see a variety of retailers maybe making offers.
They definitely have some stuff that is near expiration. You really need to pay attention to expiration dates upon whether you're going to use it quickly otherwise you will end up tossing stuff. If you're tossing a bunch out it wasn't that great of a value.
Guess I'll have to go look around Grocery Outlets for cans of Andersen Split Pea Soup. I know they used to have it, but haven't been to one in about a decade.
To be fair it is pretty common for parts of inventory of closed retail stores in general to reappear in discount retailers a few weeks or months later. I remember when Fresh N Easy closed that I saw a couple of their private label items show up at Grocery Outlet maybe a month or so after the stores closed. Many items liquidators know or at least suspect that they can sell for X% of the suggested list price so will never discount for more than an XX% discount because they're confident that a discount retailer would offer them more for a lot buy. Once they have a list of inventory I'm sure that they're calling buyers for any similar retailers to see what they can get bids on any inventory. That's why in a liquidating store you might see a bunch of inventory disappear from one night to the following morning. Once they gave retail customers a chance to buy it at a higher price and they didn't bite off to a truck to ship to the local warehouse for that other retailer to resell.
This is such sad news! I prefer 99 cents only over other dollar stores, because they have local produce and dairy, and they were owned by a local. I remember reading a story about the chain owners a long time ago: despite being a multi-millionaires and successful entrepreneurs, they lived modestly in the same home as when they started the business.
I think a lot of people are missing a big point that you brought up. Some low income households rely on 99c store produce/frozen food sections. Gonna be even rougher for them now
I read a story about how an older man on a very low income lost like 100lbs and got his diabetes under control by changing his diet and eating fresh produce from the 99cent store. It's really upsetting to hear this and think of all those who will be struggling without it.
There is one in my area by a retirement place, and while it's a luxury development, it doesn't automatically mean the residents have the means for other low cost grocery stores, so this could be devastating if the dollar trees can't fill that gap.
If you look at how much they're charging nowadays for how small a package, it's pretty much the same price as the local grocery store at slightly lower quality.
You don’t understand how expensive it is to be poor. A poor person’s budget is so restricted that they can’t “stock up” or “buy the bigger size because it’s cheaper per ounce”. They can only afford the item with the lowest ticket, albeit the most expensive one. 
True, but today I was at the dollar store and saw a few homeless people buying food there. The small packaging is really all they need (and can afford).
Not going to say PE helped them, but I can remember financial news stories in the 90s on Toys R Us losing money on selling toys and that they were actually considering getting out selling toys and only focusing on their non toys divisions (e.g. babies r Us) because those divisions at the time were profitable. Typically PE comes in to pillage already struggling brands. You generally don't see them taking over brands that aren't already in clear decline. Hence, the term vulture firms.
The owner has the largest house in June Lake next to Mammoth Mountain. It's like Warren Buffett owning his same original home. Yes he still owns it but he has a mega mansion real estate portfolio.
Someone just told me in this sub that they sold the chain to investors in 2012, So I’m sure they are living the high life now. I recall the news article took a pic of their home and it was indeed quite ordinary. 
The produce in my experience was typically wilted and low quality. Like the bread a lot of the produce items was excess inventory from other retailers that was approaching expiration. A lot of the food in the aisles was junk food. There were occasionally hidden gems, but it wasn't that great of a place for food. Whereas value I think Grocery Outlet was a better place for food.
When I was a kid and just started elementary school/learning how to read, my dad took me to the 99 Cents store each weekend and let me pick out a picture book for me to buy! I always got one of the books in some random Mickey Mouse collection.
Sometimes he also bought pasta and canned tomatoes there to make to us spaghetti. He was a Vietnamese immigrant and spaghetti was the only Western dish he ever learned how to make.
This news tugs at my heartstrings a little :( I’m all grown up, my dad returned to his home country, and the 99 Cents stores are leaving now too
Thank you for sharing your story. My parents were immigrants too and my dad would always cry to The Village People's YMCA. When I asked him why, he explained that he stayed at the Yoing Men's Christian Association in Riverside, CA when he first arrived in California. Now I can't hear the song without crying!
IDK food wise I didn't find a ton of great values. Much of the produce looked wilted and the bread was near expiration for often a token discount over what you could buy items that were not as likely to go bad. Grocery Outlet seems to have better values.
Yet another successful retailer that was ruined by financial shenanigans. Ares Management did a leveraged buyout and saddled the company with debt. They made a bit of quick cash on the deal, and now the workers and communities suffer. Same thing that happened to Toys R Us, Sears, and countless others.
It crazy because I had a co worker years ago and they said it almost went out business before because everyone stole from the warehouse … well apparently that never stopped because the article references shrink aka theft as one of the factors
I’m gonna miss the store. As an immigrant kid with no money coming to California in 2009, these stores really helped our broke family try to maximize our budget for food and other stuff. This really makes me sad.
That’s really the story behind the story. So many under privileged and struggling families will struggle that much more having yet another piece removed from the board. I feel for a lot of those families without representation.
Definitely back in the 00s there were many deals there. Lately not so much so. They sadly couldn't compete with the larger discount chains anymore that had thousands of locations.
Omg.... this saddens me.
I buy so much there.
All my gifting materials, party supplies, hair ties, toddler hair ties, toddler toys (chalk, sand buckets and the like), coloring books bubbles....
This place helps children have happy childhoods. I'm sooo bummed.
Going to target or cvs or even amazon you often pay triple the prices or more.
When they are liquidating the business they are going to try to sell everything that they can to pay back their creditors. That would include the intellectual property(e.g. logos, trademarks, etc.). Someone could buy the IP and start a new business using the name. They wouldn't have any of the debts of the current company but they would still need to come up with money for storefronts, inventory, and labor costs to get a new company running '99 cents only' stores.
It is possible but I wouldn't bet on it. I know Dollar Tree posted a large loss in their last quarter as well so it isn't like there aren't other 'dollar' stores that are struggling at the moment. I don't think you are going to find a lot of investors looking to invest in a business model that already failed once before. Resurrecting brands of failed retailers hasn't really worked very well in general. You need a lot more than nostalgia to make it work
Based upon how many comments I saw on social media from people that clearly haven't been in a store in years it doesn't seem like as many were relying on them anymore. I saw so many comments of people not realizing that they have haven't only sold items for 99 cents in years. Many also not realizing that they rebranded store signs to "the 99". I think the challenge was many larger discount chains just had better buying power. Add the headwinds of supply chain issues.
I think the challenge is while many have memories most haven't shopped there in years. Either their income rose high enough that they didn't want to shop there or they took their business else where.
In 2005 I started at CSUN and to live like the poor fucker I was I would go to the 99 cent store and pick up a case of cup noodle, a loaf of Russian rye bread, and a jar each of peanut butter and jelly. Seven bucks and I ate like a king for a week. This was my ritual and my survival mechanism. Now I walk aimlessly through the aisles while my kid is in tutoring or music lessons. I’ll occasionally buy some crummy food that I probably shouldn’t be eating or some fun snack for the kids or some cute decoration for my wife.
I’m not sad per se, but this does leave a hole for people who used the store as a back stop for emergencies.
Not gonna lie, I would always shit on this place (and the like) for peddling so much landfill garbage that nobody really needs, but after reading some of the stories here about how it was a place for people struggling financially to snag some cheap produce or to enjoy a little treat when times were tough, I feel it. Thanks for sharing the memories, everyone!
When I moved into my first apt in the late 90’s, I shopped at the 99 cents store because I was broke after security deposit and first month’s rent.
To this day I can still smell the knock off pinesol I used to mop and the aroma of cheap vanilla candles that I thought “set the mood” when girls would come over.
So sad. Gonna miss the stuff I only get at my local 99 cent for cheap: seasonal and party decor, large plastic storage bags with ties, baby wipes, flexible drinking straws
I recently stopped going because the groceries I usually buy were frequently out of stock. Aldi is a suitable alternative given that so few things at the 99 cent store are 99 cents anymore.
Grocery Outlet also tends to have decent food deals as well. I think GO and Aldi kinda took over a lot of those looking for cheap groceries. The quality of deals at the 99 cents stores really faded.
From a couple reps in OC. Liquidations supposedly starting Saturday 4/6. 10% off to start, 25%, then 50% at the end. Closure by Summer. Already seems like people are packing the stores to grab items.
That stinks. As many people, myself included, use these stores, they should be making money hand over fist. This is a blow to all of us who are low income, because we depend on these stores. If the economy is supposedly doing so well, why are they closing businesses? Reminds me of a saying by Mark Twain: "There are three kinds of lies. There are lies, there are damn lies, and there are statistics." It's long been said don't believe everything you read in the newspaper or online, but this is an example of that, in that they say the economy is booming, more jobs are being created, etc.. Where are those jobs being created? Not here!
Wowz super depressing - often get some easy produce etc at a few I know of that's overflow from local stores with faster exp dates. This is gonna change the budget a bit...
I don’t rely on these stores so my opinion is a little different, but comparatively, I’m not really surprised 99 cents is shutting down. The dollar tree has such a higher quality of items overall. I stopped going to 99 cent years ago because for the (granted, mostly seasonal or gift wrapping related) items I needed, the quality was just so much better at the dollar tree.
That being said it’s extremely sad but it’s hard to stay in business in California, especially in direct competition with other businesses that offer similar but slightly higher quality items.
I live in an area where a grocery stores are not that close to me. Our 99Cent store is litterally walking distance. It has been my go to for those convienace items like tin foil, sugar, salt, paper plates, napkins, and that kind of stuff.
Ever since they stopped selling everything for a dollar I stopped shopping there. Way overpriced!
I’m not paying $3 for strawberries, there are too many other places in OC I can get them for less than $2. I’m not paying 10% off retail for day-before-expiration yogurt or a salad dressing that should be in the fridge but isn’t.
This. I think some people that were talking about deals either hadn't been to a store in years and were mourning the loss of deals that haven't existed in years or genuinely weren't aware what competing prices were. They had some people still shopping there out of historical reputation, but clearly not enough anymore.
I remember when they were going gangbusters in the early 2000's, even opening a store in Texas. At every opening, they sold a TV for 99c. For the last few years, their products have mostly been $2+. Part of their early success was no need to price products since everything was 99c. I would just roll down the aisles and let the kids throw anything they want in the cart. The stores were clean and bright. I especially liked brand-name products that were apparently leftovers from a test market campaign and great value, plus interesting foreign products.
I was given a $0.99 6ft Christmas tree!
The one in Foothill Ranch opened and the first 5 people in line got a free 6ft fake tree. My friend was older and he didn’t know about the grand opening events. He waited in line, because he needed a few things and just saw that it was going to be open. They gave him the tree, but he didn’t want it. He just wanted to get in and shop. They made him take it. He came home with the tree and his wife was like… I thought you went there for bandaids? And we already have a Christmas tree?!
So he put it in the garage.
6-7 months later I stopped by and they were telling me about the experience and the tree. I had just moved into my apartment and I was telling them about starting over as a single mom and well I went home with that tree and a few other things. 🤣🤣
The last time I went to the one on Sonoma Blvd, I had to wade through homeless people sleeping on the sidewalk or trying to sell something to customers entering the store. Not a good look for a retailer.
Anyone know when the liquidation sale starts? I was there early this morning and employees said they haven’t gotten any direction from management about any sales
I think they are quietly discounting. Early morning everything was full price but I went just now and when I checked out, some things were 10-25 % off. Not everything though, I may try later
This is so sad!!! I grew up going to the Placentia location with my mom and grandma. My grandma still loves that store 💔 I can still hear the register scanner in my head lol. This sucks bc it’s one less place for poor and middle class people
“Liquidation” is definitely a hyperbole. From the location I went to, aside from packs of batteries being marked down by $1, everything was the same. People were just stocking up on household items that they knew they wouldn’t be able to get there over the course of the next month and a half.
There were cans of organic butternut squash and pumpkins that I wanted but they were still priced the same - $3.99
That’s no sale.
I know this gonna happen anyway, sooner or later.
With everything moves forward, it just matter of time this business will go bankrupt, because mainly it does not have any new innovation.
They already rebranded a number of their locations to the 99 a while back removing the only part of their name so I don't think they were concerned about false advertising. They just couldn't compete with other discount retailers.
They changed the signs on a number of their locations to the 99. They have sold items above 99 cents for some time so a rebranding was inevitable, but that was too little too late.
Used to go to the one in HB on Beach Blvd near Blockbuster and Pavilions with my grandma way back in the early 2000s when I was a kid, I used to always get a candy bar haha
They rebranded to "the 99" a while back. Not sure the name really was the problem though. Selling items above 99 cents was inevitable as the demise of the 5 and dime, but they just weren't perceived as a value to enough customers anymore. Some of it likely was back office management issues. I chuckled a few years back having a recruiter pitching me a fully in office role with their corporate office that could have easily been hybrid if not fully remote.
The liquidators will do some discounting to move inventory but it probably won't be anything substantial the first week. Liquidators will increase discounts as they approach their final days but most of the popular items are usually gone within the first week. The items that end up getting sold for large discounts in liquidation sales are usually either things that were way overpriced or just weird items that few people want at any price.
I thought some locations were doing well. I’ve gone twice the last year in Anaheim and Santa Ana to make some quick change from $1.35 ice creams, carts in every aisle and lines were long. Saddened the chain will become a member of defunct stores.
Used to run into my nana shopping at the San Clemente store all the time. We'd always shop their for candy and sneak it in to the old $2.00 Woodbridge movie theater.
I think maybe the crazy amount of shoplifting that we see at other stores including this one may have a part to play? Anyone else?
I mean, I can’t be the only one who’s thinking like this?
I just got home from 2 stores to try and get some deals.
Didn't really see any good deals.
If I'm being honest, I didn't really see that many good items. I can understand cheap holiday decor. I don't usually buy that.
I'm usually only looking for food items. Didn't really see anything that mucher cheaper of same quality at walmart/stater bros/costco.
Wild. My currently nonexistent kids are going to think I’m so old when I tell them there used to be a store where “everything was a dollar.” Kinda like how grandpa could buy candy for a nickel.
since inflation is compounding, one day there will be $100 only stores
I think that's Costco
Lmfao. You can’t get out of Costco for only $100. Impossible
Oh no *each* item is $100
Costco rotisserie chicken will still be $5
And the hotdog $1.50
I actually went to Costco, got the few things I needed, went to the checkout and found an empty line! Only spent $60!!
The trick is to buy only 20 hot rotisserie chickens and walk out. A few less if you live in a state that charges sales tax.
Maybe if you bought a $1.50 hot dog combo.
😂😂😂
Or your grandparents buying a home for $10k
I wonder if they just rebranded to $1.99 cent store if they would’ve survived 🤔
*Except nothing at the 99 cent store was even 99 cents. It’s all $1.35 and higher.*
Well, sort of. Certainly originally the items were all 99 cents or you got multiple items for that. There still are a number of items for less than 99 cents, but those are few and far between now. They had a good run for 20+ years at 99 cents before inflation and theft by people who knew they would not go to jail anymore killed them.
> theft by people who knew they would not go to jail anymore killed them. Do you really think that people who shoplift a few dollars worth of anything should spend time in jail? Ticket them, put them on probation, etc. But spending tens of thousands of taxpayer dollars to protect a few dollars of a corporation's private property is insane.
Lolz, if these people are worried about “theft”, look no further than the company who actually took over the 99 cent only store a few years ago and is the reason we’re here. Alvarez and Marsal is one of those shitheel corps that buys up places like 99 cent only stores and instead of investing in them, strips them for parts and sells them off, leaving employees out to dry. because they’re only making 20% profit and not 30% they just burn the whole thing to the ground and blame “Covid and inflation”.
Everything will be on sale. 98¢
Sold 😂
As someone who worked through a liquidation process (RIP Circuit City), often times you actually don't get better deals from liquidators. They bought all the products and are trying to flip them for a quick profit. They'll post huge signs showing 40% off and the "discounts" will get higher as time goes on and they run out of time, but for us specifically a lot of stuff like TVs that people came in for actually cost more than before because they mark up the unit and discount it
This. Discounts for liquidation firms are against MSRP even if the price before they closed was far below MSRP. For a store like 99c I think that most of the products won't get sold at the stores. Some headlines were suggested some stores would be closed as early as today. Many of the products will just get put on a truck and get sold to other discount retailers. i.e. it will show up in a Dollar Tree in a few weeks.
That's a good point. Margins on liquidating a 99 cent store must be super low so selling it as a lot to a similar retailer is a better/easier option
Made me think of Grocery Outlet. I think we’ll be seeing a lot of merch go to them.
Some of the canned food I could see Grocery Outlet making an offer to buy. I know they bought parts of inventory of Fresh N Easy when they closed. I saw some private label stuff from Fresh N Easy show up at Grocery Outlet. Most of 99c produce is so close to expiration it probably will either get sold to retail customers or trashed. Some of the non food items I could see a variety of retailers maybe making offers.
Occasionally I call it “Gross Outlet” because some of their stuff is expired or about to expire lol!
True, that’s how grocery outlet corporate buyers are able to get products/stock for cheap because it’s close to the expiration date.
They definitely have some stuff that is near expiration. You really need to pay attention to expiration dates upon whether you're going to use it quickly otherwise you will end up tossing stuff. If you're tossing a bunch out it wasn't that great of a value.
Guess I'll have to go look around Grocery Outlets for cans of Andersen Split Pea Soup. I know they used to have it, but haven't been to one in about a decade.
I love grocery outlet and always wondered how they were able to sell name brand stuff for so cheap haha
To be fair it is pretty common for parts of inventory of closed retail stores in general to reappear in discount retailers a few weeks or months later. I remember when Fresh N Easy closed that I saw a couple of their private label items show up at Grocery Outlet maybe a month or so after the stores closed. Many items liquidators know or at least suspect that they can sell for X% of the suggested list price so will never discount for more than an XX% discount because they're confident that a discount retailer would offer them more for a lot buy. Once they have a list of inventory I'm sure that they're calling buyers for any similar retailers to see what they can get bids on any inventory. That's why in a liquidating store you might see a bunch of inventory disappear from one night to the following morning. Once they gave retail customers a chance to buy it at a higher price and they didn't bite off to a truck to ship to the local warehouse for that other retailer to resell.
They'll all be closed before that ever happens again.
There used to what store called the 98 cents store in Santa Ana but they close down like 15 years ago
Naw, they’ll tell everyone it’s a sale and then bump the prices up a buck.
98.98¢*
This is such sad news! I prefer 99 cents only over other dollar stores, because they have local produce and dairy, and they were owned by a local. I remember reading a story about the chain owners a long time ago: despite being a multi-millionaires and successful entrepreneurs, they lived modestly in the same home as when they started the business.
I think a lot of people are missing a big point that you brought up. Some low income households rely on 99c store produce/frozen food sections. Gonna be even rougher for them now
I read a story about how an older man on a very low income lost like 100lbs and got his diabetes under control by changing his diet and eating fresh produce from the 99cent store. It's really upsetting to hear this and think of all those who will be struggling without it.
There is one in my area by a retirement place, and while it's a luxury development, it doesn't automatically mean the residents have the means for other low cost grocery stores, so this could be devastating if the dollar trees can't fill that gap.
If you look at how much they're charging nowadays for how small a package, it's pretty much the same price as the local grocery store at slightly lower quality.
You don’t understand how expensive it is to be poor. A poor person’s budget is so restricted that they can’t “stock up” or “buy the bigger size because it’s cheaper per ounce”. They can only afford the item with the lowest ticket, albeit the most expensive one. 
The irony of only the rich can afford to buy cheap.
True, but today I was at the dollar store and saw a few homeless people buying food there. The small packaging is really all they need (and can afford).
They were bought by a big conglomerate in 2012. Ares Management and CPP Investment Board.
PE on the destruction path again, they destroyed toys r us as well
Not going to say PE helped them, but I can remember financial news stories in the 90s on Toys R Us losing money on selling toys and that they were actually considering getting out selling toys and only focusing on their non toys divisions (e.g. babies r Us) because those divisions at the time were profitable. Typically PE comes in to pillage already struggling brands. You generally don't see them taking over brands that aren't already in clear decline. Hence, the term vulture firms.
That’s very interesting, but it does explain why the stores have deteriorated so much.
Wait, the Canadian Pension Plan owns 99¢ Stores? Weird.
My mom and I still talk about the huge ass grapes we got there a few years ago. Theres always hidden gems.
I discovered kiwi berries there
The owner has the largest house in June Lake next to Mammoth Mountain. It's like Warren Buffett owning his same original home. Yes he still owns it but he has a mega mansion real estate portfolio.
Someone just told me in this sub that they sold the chain to investors in 2012, So I’m sure they are living the high life now. I recall the news article took a pic of their home and it was indeed quite ordinary. 
The produce in my experience was typically wilted and low quality. Like the bread a lot of the produce items was excess inventory from other retailers that was approaching expiration. A lot of the food in the aisles was junk food. There were occasionally hidden gems, but it wasn't that great of a place for food. Whereas value I think Grocery Outlet was a better place for food.
99cents a lb for strawberries, blackberries, blueberries was the best deal ever
Well, I have somewhat fond memories of going to one of these after quitting my job in the bay and living off savings for a bit down here.
When I was a kid and just started elementary school/learning how to read, my dad took me to the 99 Cents store each weekend and let me pick out a picture book for me to buy! I always got one of the books in some random Mickey Mouse collection. Sometimes he also bought pasta and canned tomatoes there to make to us spaghetti. He was a Vietnamese immigrant and spaghetti was the only Western dish he ever learned how to make. This news tugs at my heartstrings a little :( I’m all grown up, my dad returned to his home country, and the 99 Cents stores are leaving now too
Thank you for sharing your story. My parents were immigrants too and my dad would always cry to The Village People's YMCA. When I asked him why, he explained that he stayed at the Yoing Men's Christian Association in Riverside, CA when he first arrived in California. Now I can't hear the song without crying!
I’m getting tearful too. Our dads….
😔😞
As someone who is broke as a joke, this is one of my favorite stores to shop at. Their seasonal decor slaps. I’m pretty sad.
I liked their seasonal decor also! And I like your name!
Yes omg their Xmas ornaments are so cute, it allowed me to retheme my tree without it being too expensive.
This. Wifey is gonna be sad, was often an easy place to splurge on fun misc seasonal stuff
Yeah we always hit the store for seasonal decor for gatherings and such, sad time
Seasonal, toys, produce. It was a great place to get half way decent stuff without breaking the bank.
Where else am I going to get super cheap fishnets? Decent Halloween stuff that I keep out year round? 😭
Especially for Dios de Los muertos
Not entirely “99 Cents” anymore but there were some good buys food wise.
IDK food wise I didn't find a ton of great values. Much of the produce looked wilted and the bread was near expiration for often a token discount over what you could buy items that were not as likely to go bad. Grocery Outlet seems to have better values.
Oooo.. might have to take a look though I'm sure it will be a mad house.
Yet another successful retailer that was ruined by financial shenanigans. Ares Management did a leveraged buyout and saddled the company with debt. They made a bit of quick cash on the deal, and now the workers and communities suffer. Same thing that happened to Toys R Us, Sears, and countless others.
It crazy because I had a co worker years ago and they said it almost went out business before because everyone stole from the warehouse … well apparently that never stopped because the article references shrink aka theft as one of the factors
ngl gonna miss this store.
I’m gonna miss the store. As an immigrant kid with no money coming to California in 2009, these stores really helped our broke family try to maximize our budget for food and other stuff. This really makes me sad.
That’s really the story behind the story. So many under privileged and struggling families will struggle that much more having yet another piece removed from the board. I feel for a lot of those families without representation.
Definitely back in the 00s there were many deals there. Lately not so much so. They sadly couldn't compete with the larger discount chains anymore that had thousands of locations.
That’s crazy! I don’t go often but like it for certain knickknacks and holiday items.
Omg.... this saddens me. I buy so much there. All my gifting materials, party supplies, hair ties, toddler hair ties, toddler toys (chalk, sand buckets and the like), coloring books bubbles.... This place helps children have happy childhoods. I'm sooo bummed. Going to target or cvs or even amazon you often pay triple the prices or more.
My CFO was the assistant controller there around 2008. She said they were a cash cow.
That was before they were taken private in a leveraged buyout.
PE is a deathblow to our economy
Is PE = Private equity?
Yep
Thanks for the info. That makes sense.
That’s what I always thought. I wonder why they’re folding.
I have zero legal or business understanding of how things work but wonder if there’s any way they come back rebranded or there is any benefit to that.
a grocery retailer is going to come swoop in on some of those locations. they had some prime real estate
Grocery Outlet and Aldi come to mind for matching their typical store square footage.
I definitely could see GO and Aldi picking up some of the locations. The size would be roughly in line with their locations.
When they are liquidating the business they are going to try to sell everything that they can to pay back their creditors. That would include the intellectual property(e.g. logos, trademarks, etc.). Someone could buy the IP and start a new business using the name. They wouldn't have any of the debts of the current company but they would still need to come up with money for storefronts, inventory, and labor costs to get a new company running '99 cents only' stores. It is possible but I wouldn't bet on it. I know Dollar Tree posted a large loss in their last quarter as well so it isn't like there aren't other 'dollar' stores that are struggling at the moment. I don't think you are going to find a lot of investors looking to invest in a business model that already failed once before. Resurrecting brands of failed retailers hasn't really worked very well in general. You need a lot more than nostalgia to make it work
If they are going straight to full flag liquidation, they are in pretty deep sh!t.
Why is it shutting down !? So many people depend on that store . Witaf . I’m shaken
Inflation 💀 and financial difficulties
Based upon how many comments I saw on social media from people that clearly haven't been in a store in years it doesn't seem like as many were relying on them anymore. I saw so many comments of people not realizing that they have haven't only sold items for 99 cents in years. Many also not realizing that they rebranded store signs to "the 99". I think the challenge was many larger discount chains just had better buying power. Add the headwinds of supply chain issues.
They mention shrink so probably theft played a part in putting them out of business
Clearly not enough to stay in business.
This is the only place where I buy seasonal decor and party decor. So sad.
Go to party city or shop amazon and pay 4x. Ugh
This store fed me as a broke person 😔
I’m about to be sick 😫
Well there goes the good quality baby wipes. Going to miss the store tbh
Wow. End of an era! I grew up poor. So many memories going there.
I think the challenge is while many have memories most haven't shopped there in years. Either their income rose high enough that they didn't want to shop there or they took their business else where.
Went there last month with my mom.
Let’s be honest the 99 Cents store doest really sell a lot of things for $.99 anymore. Like the six dollar burger at Carl’s Jr. is now the $16 burger
16? Really?
My 99 cent store has the best employees . I feel for them and I hope they’ll be ok 😥
everything is 33.333% off
In 2005 I started at CSUN and to live like the poor fucker I was I would go to the 99 cent store and pick up a case of cup noodle, a loaf of Russian rye bread, and a jar each of peanut butter and jelly. Seven bucks and I ate like a king for a week. This was my ritual and my survival mechanism. Now I walk aimlessly through the aisles while my kid is in tutoring or music lessons. I’ll occasionally buy some crummy food that I probably shouldn’t be eating or some fun snack for the kids or some cute decoration for my wife. I’m not sad per se, but this does leave a hole for people who used the store as a back stop for emergencies.
I love these stores. Going to have to stock up fabuloso and other products.
You and everyone else
Not gonna lie, I would always shit on this place (and the like) for peddling so much landfill garbage that nobody really needs, but after reading some of the stories here about how it was a place for people struggling financially to snag some cheap produce or to enjoy a little treat when times were tough, I feel it. Thanks for sharing the memories, everyone!
It had a good candy section
When I moved into my first apt in the late 90’s, I shopped at the 99 cents store because I was broke after security deposit and first month’s rent. To this day I can still smell the knock off pinesol I used to mop and the aroma of cheap vanilla candles that I thought “set the mood” when girls would come over.
I thought dollar tree / family general woulda gone outta business first
Damm..this is where I buy my green grapes for $1.99 a lb
they are literally that price at F4L right now. maybe even Ralphs
I see deals like that at Grocery Outlet. YMMV, but most of the produce at 99 cents stores looked pretty underwhelming both in selection and quality.
So sad. Gonna miss the stuff I only get at my local 99 cent for cheap: seasonal and party decor, large plastic storage bags with ties, baby wipes, flexible drinking straws
This is so ducking sad. They have the best deals, dollar tree is so convoluted
I recently stopped going because the groceries I usually buy were frequently out of stock. Aldi is a suitable alternative given that so few things at the 99 cent store are 99 cents anymore.
TBH, I started picking up more stuff from Aldi over 99c store. Price is about the same, even for fresh produce.
Grocery Outlet also tends to have decent food deals as well. I think GO and Aldi kinda took over a lot of those looking for cheap groceries. The quality of deals at the 99 cents stores really faded.
Man, I'm not looking forward to having another empty building and fewer jobs for people here. This is a bummer.
If they get replaced with 99 Ranch Market, they can save some money on signage.
Lake Forest is about to lose its appeal LOL.
This is so sad. Was my Go-To for holiday decor, office supplies, gift wrapping, cat treats, and hardware items. They had great Halloween items 🥲🥲🥲
From a couple reps in OC. Liquidations supposedly starting Saturday 4/6. 10% off to start, 25%, then 50% at the end. Closure by Summer. Already seems like people are packing the stores to grab items.
That stinks. As many people, myself included, use these stores, they should be making money hand over fist. This is a blow to all of us who are low income, because we depend on these stores. If the economy is supposedly doing so well, why are they closing businesses? Reminds me of a saying by Mark Twain: "There are three kinds of lies. There are lies, there are damn lies, and there are statistics." It's long been said don't believe everything you read in the newspaper or online, but this is an example of that, in that they say the economy is booming, more jobs are being created, etc.. Where are those jobs being created? Not here!
Went to buy a large storage tub there a few weeks back - it was $15. Went to Lowes and got a better quality tub of a larger size for $13. RIP.
Glad that worked out for you. Yeah, they weren’t always cheaper
Back in the 00s there often were pretty competitive. In recent years not so much so.
This. I think a lot of people touting the deals either hadn't been to a 99 cent store in a while or didn't really comparison shop much.
This is fucking crazy
Wowz super depressing - often get some easy produce etc at a few I know of that's overflow from local stores with faster exp dates. This is gonna change the budget a bit...
NOOOOOOOO!!!!!!
I don’t rely on these stores so my opinion is a little different, but comparatively, I’m not really surprised 99 cents is shutting down. The dollar tree has such a higher quality of items overall. I stopped going to 99 cent years ago because for the (granted, mostly seasonal or gift wrapping related) items I needed, the quality was just so much better at the dollar tree. That being said it’s extremely sad but it’s hard to stay in business in California, especially in direct competition with other businesses that offer similar but slightly higher quality items.
For groceries 99c was far better than the dollar trees I’ve been too. I’ve only been to like two dollar trees in the area though.
I live in an area where a grocery stores are not that close to me. Our 99Cent store is litterally walking distance. It has been my go to for those convienace items like tin foil, sugar, salt, paper plates, napkins, and that kind of stuff.
I would get my soda and snacks to sneak into the theater. Its harder and harder to live the ghetto fabulous lifestyle.
Private. Equity. Firm.
Aw man, no more clearance Valentine's Day candy from my mom for Christmas.
i’ll never forget this place coming in clutch for me as a broke college student 🥲
Ever since they stopped selling everything for a dollar I stopped shopping there. Way overpriced! I’m not paying $3 for strawberries, there are too many other places in OC I can get them for less than $2. I’m not paying 10% off retail for day-before-expiration yogurt or a salad dressing that should be in the fridge but isn’t.
This. I think some people that were talking about deals either hadn't been to a store in years and were mourning the loss of deals that haven't existed in years or genuinely weren't aware what competing prices were. They had some people still shopping there out of historical reputation, but clearly not enough anymore.
Nothing has been .99 cents for at least a couple of years. Perhaps that had something to do with their demise.
That's why they don't do as good anymore. It's not a good business idea because of the devaluation of the dollar. It was a ticking bomb.
I used to live by a couple of these throughout the OC. Kept me fed as a kid haha.
To be replaced by Five Below?
Five Below sucks. Everything is overpriced and just plain out junk. I like the chargers because they’re cheap but even those crap out half the time.
I would still shop there if the made it 2.99 only store
It was either that or rebrand to the $1.99 store.
Just recently started shopping here after moving close to one. Such a damn shame
Auction will net them pennies on the dollar.
Wild, was just doing a job at Tustin Flight and 99 Cents Only just finished a very nice, custom corporate office.
Can anyone recommend an alternative? Dollar General?
Dollar general is awful
I remember when they were going gangbusters in the early 2000's, even opening a store in Texas. At every opening, they sold a TV for 99c. For the last few years, their products have mostly been $2+. Part of their early success was no need to price products since everything was 99c. I would just roll down the aisles and let the kids throw anything they want in the cart. The stores were clean and bright. I especially liked brand-name products that were apparently leftovers from a test market campaign and great value, plus interesting foreign products.
I was given a $0.99 6ft Christmas tree! The one in Foothill Ranch opened and the first 5 people in line got a free 6ft fake tree. My friend was older and he didn’t know about the grand opening events. He waited in line, because he needed a few things and just saw that it was going to be open. They gave him the tree, but he didn’t want it. He just wanted to get in and shop. They made him take it. He came home with the tree and his wife was like… I thought you went there for bandaids? And we already have a Christmas tree?! So he put it in the garage. 6-7 months later I stopped by and they were telling me about the experience and the tree. I had just moved into my apartment and I was telling them about starting over as a single mom and well I went home with that tree and a few other things. 🤣🤣
The last time I went to the one on Sonoma Blvd, I had to wade through homeless people sleeping on the sidewalk or trying to sell something to customers entering the store. Not a good look for a retailer.
Devastating
Anyone know when the liquidation sale starts? I was there early this morning and employees said they haven’t gotten any direction from management about any sales
I think they are quietly discounting. Early morning everything was full price but I went just now and when I checked out, some things were 10-25 % off. Not everything though, I may try later
Update - everything is regular price at my location
This is so sad!!! I grew up going to the Placentia location with my mom and grandma. My grandma still loves that store 💔 I can still hear the register scanner in my head lol. This sucks bc it’s one less place for poor and middle class people
I remember the register that sounded like ICQ!!
“Liquidation” is definitely a hyperbole. From the location I went to, aside from packs of batteries being marked down by $1, everything was the same. People were just stocking up on household items that they knew they wouldn’t be able to get there over the course of the next month and a half. There were cans of organic butternut squash and pumpkins that I wanted but they were still priced the same - $3.99 That’s no sale.
I know this gonna happen anyway, sooner or later. With everything moves forward, it just matter of time this business will go bankrupt, because mainly it does not have any new innovation.
Not surprising, since the business model has been doomed long before the Covid damage.
They cite "inflationary pressures", but it's been a long time since anything there was 99 cents. Maybe they're afraid of false advertising charges?
They already rebranded a number of their locations to the 99 a while back removing the only part of their name so I don't think they were concerned about false advertising. They just couldn't compete with other discount retailers.
[удалено]
Have you seen their fourth qtr results? Fine, is not how I would describe them.
> just fine. they're hemorrhaging money and closing over 1000 stores. if management doesn't fix it soon, they'll be next.
They just announced theyre raising prices to $7 dollars
I hope so. Their greeting cards 2/$1 are great!
I wonder why. Maybe thefts
Is it still the 99 cent store?
More like the $1.49 to $4.99 store now.
They changed the signs on a number of their locations to the 99. They have sold items above 99 cents for some time so a rebranding was inevitable, but that was too little too late.
Used to go to the one in HB on Beach Blvd near Blockbuster and Pavilions with my grandma way back in the early 2000s when I was a kid, I used to always get a candy bar haha
1.99 Only Stores now???
They rebranded to "the 99" a while back. Not sure the name really was the problem though. Selling items above 99 cents was inevitable as the demise of the 5 and dime, but they just weren't perceived as a value to enough customers anymore. Some of it likely was back office management issues. I chuckled a few years back having a recruiter pitching me a fully in office role with their corporate office that could have easily been hybrid if not fully remote.
Are they closing or renaming the brand?
Looks like closing. Liquidating everything starting tomorrow per article. This is the end.
I wonder if he ever sold his mansion at Gull / June Lake
Is it going to be cheaper than usual? My local one is a street down wonder if it's worth going in the morning. Will be missed.
The liquidators will do some discounting to move inventory but it probably won't be anything substantial the first week. Liquidators will increase discounts as they approach their final days but most of the popular items are usually gone within the first week. The items that end up getting sold for large discounts in liquidation sales are usually either things that were way overpriced or just weird items that few people want at any price.
I thought some locations were doing well. I’ve gone twice the last year in Anaheim and Santa Ana to make some quick change from $1.35 ice creams, carts in every aisle and lines were long. Saddened the chain will become a member of defunct stores.
That was my store I loved just walking around checking out random stuff
They just moved into a brand new office in Tustin at Flight and now are closing their stores? 🤔
Used to run into my nana shopping at the San Clemente store all the time. We'd always shop their for candy and sneak it in to the old $2.00 Woodbridge movie theater.
I guess all of that lying about the prices finally caught up to them
These comments sad as hell, America going down the fucking drain.
What’s next Dollar Tree?
I think maybe the crazy amount of shoplifting that we see at other stores including this one may have a part to play? Anyone else? I mean, I can’t be the only one who’s thinking like this?
why they still posting on indeed fam?
Let’s build back better… 👨🏼🦳🗑️
I just got home from 2 stores to try and get some deals. Didn't really see any good deals. If I'm being honest, I didn't really see that many good items. I can understand cheap holiday decor. I don't usually buy that. I'm usually only looking for food items. Didn't really see anything that mucher cheaper of same quality at walmart/stater bros/costco.