California shoppers are already feeling the loss of yet another wave of large-scale store closures.
The company that operates 99 Cents Only Stores announced earlier this month The company announced it would close approximately 371 stores in California, Nevada, Texas, and Arizona, with some stores closing as early as April 5.
Most of those closures, about 265 stores, are from the Golden State, where the company was founded in 1982. Since then, the company’s headquarters have been based in Commerce, California.
in another franchise Announces major closure In California, some shoppers are pointing the finger at the governor.
California shoppers blamed soaring prices and Newsom’s minimum wage policies for 99 Cents Only store closures. (Justin Sullivan/Getty Images)
California’s popular bookstore closing highlights the plight of small businesses in the expensive state
“I take the blame [Gavin] Newsome,” said Rick Juarez, 53. Los Angeles Times on tuesday. “Taxes are too high, minimum wage is too high. These businesses can’t compete at all, so they’re going to have to close down. And in the end, it’s poor people like us who suffer.”
Juarez told the L.A. Times that he has been going to the Main Street store for “at least” 20 years and returned to stock up on batteries before it was too late.
Ahead of the closure, some stores began holding “Everything Must Go” sales offering various discounts. Local shoppers also quickly flocked to the store to stock up on affordable items before it was too late.
“Being able to buy toys for the younger children, pens for the older children to go to school, and buying groceries for all of us,” said Altagracia Nuñez. “I was able to do it,” he told the Los Angeles Times in Spanish. “And of course the price.”
“Well, with everything getting so expensive these days, I guess I just had to stop doing that,” she added with a weak laugh.
Shoppers leave a 99 Cents Only store on Friday, April 5, 2024 in Huntington Beach, California. (Allen J. Scherben/Los Angeles Times via Getty Images)
“We need to maintain this situation,” lamented Victor Barrios, a 38-year-old delivery driver. “I make decent money, and shopping here helps. But just imagine, what if I’m on WIC? What if I’m on Social Security? ? We need a place like this. Should people go to Ralphs now? Or should they go to Target? Why? Money?
Mike Simoncic, interim CEO of the company’s 99 Cents Only Store, said of the announcement: “This was a very difficult decision and one that we did not expect or hope to achieve. “It’s not the result of this.”
He added: “Unfortunately, the past few years have been marked by the unprecedented impact of the COVID-19 pandemic, changes in consumer demand, rising levels of contraction, sustained inflationary pressures, and other macroeconomic headwinds. have presented significant and persistent challenges in the retail environment, which have significantly hindered our ability to operate.
California Chinese restaurant closes after 44 years: “We can’t afford to stay here any longer”
“99 Cents Only Stores, along with its financial and legal advisors, has extensively analyzed all available credible alternatives and identified a solution that will allow it to continue operating,” the company added in a press release. Ta.
“After actively pursuing these alternatives for several months, we ultimately determined that an orderly wind-down was necessary and the best way to maximize the value of our 99 Cents Only Store assets. Did.”
City of Commerce, a discount chain with about 14,000 employees, will close all 371 stores in California, Arizona, Nevada and Texas on April 4, 2024, after more than 40 years. Announced. (Photo by ROBYN BECK/AFP via Getty Images)
A timeline for the closure has not been disclosed, but the LA Times reported that the Main Street store will close in June.
CLICK HERE TO GET THE FOX NEWS APP
