Highway 50 99 cent store to close due to national shutdown citing post-pandemic issues
Carson City's 99 Cents Only store will be closing along with nearly 400 others amid a national shutdown.
According to a new release issued by 99 Cents Only corporate, the company will be shutting down all 371 locations across the west in an “orderly wind-down.”
This includes the 99 Cents Only location on Highway 50 E. in Carson City.
In Arizona, California, Nevada and Texas, Hilco Real Estate is handling the sale of the company’s real estate assets.
The reason for the shut down is due to financial stress caused by and continued since the pandemic, according to Mike Simoncic, Interim Chief Executive Officer.
"This was an extremely difficult decision and is not the outcome we expected or hoped to achieve," said Simoncic. "Unfortunately, the last several years have presented significant and lasting challenges in the retail environment, including the unprecedented impact of the COVID-19 pandemic, shifting consumer demand, rising levels of shrink, persistent inflationary pressures and other macroeconomic headwinds, all of which have greatly hindered the Company's ability to operate. We deeply appreciate the dedicated employees, customers, partners, and communities who have collectively supported 99 Cents Only Stores for decades."
At this time there is no specific closing date for Carson City’s location. The “wind-down” of the company begins today, Friday April 5, but there’s been no word as to how stores will be closing and in which order.
We will update with more information when it becomes available.