99 Cents Only Stores to Wind Down Business Operations

99 Cents Only Stores said it plans to wind down its business operations.

• In pact with Hilco Global to liquidate all merchandise and dispose of some fixtures, furnishings and equipment
• Hilco Real Estate is managing sale of real estate assets
• Named Alvarez & Marsal Managing Director Chris Wells as chief restructuring officer
• Cites impact of pandemic shifting consumer demand, rising levels of shrink, persistent inflationary pressures and other macroeconomic headwinds
• NOTE: Retailer 99 Cents Is Mulling a Potential Bankruptcy Filing

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Greg Chang in San ...