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Five 99 Cents Only stores closing in SLO and Santa Barbara counties

April 5, 2024

By KAREN VELIE

The owners of the 99 Cents Only stores chain announced Thursday they are closing down all 371 locations including five in San Luis Obispo and Santa Barbara counties. Liquidation sales start on Friday.

There are five 99 Cents Only stores in San Luis Obispo and Atascadero in SLO County. In Santa Barbara County, there are 99 Cent Only stores located in Santa Maria, Lompoc and Santa Barbara.

In line with many retail businesses following the pandemic, the chain has struggled with rising costs and other financial issues.

“This was an extremely difficult decision and is not the outcome we expected or hoped to achieve,” interim company CEO Mike Simoncic said in a statement. “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.”

 


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Started in San Francisco bled to LA and now closures are occurring Statewide!!!

Pretty soon it’s only going to be Nordstrom’s, Gucci, Prada Neiman Marcus etc. that will be able to operate in California, us deplorables will have to do our shopping on Amazon where shoplifting isn’t a problem, except for a few porch pirates here and there!!!


7

Theft and inflation is closing them… notice they call it shrink… that’s theft… and when goods cost them more… they can’t sell stuff for a dollar… that’s called inflation…


40

Maybe anchoring your entire brand to an albatross price-point, isn’t the best business strategy in retrospect? Great idea back in the 60’s.


-25

***——————+*I think people would’ve been very understanding if they simply re-branded to $1.99 Only Stores. All they had to do was add a single digit to their name and logo. That flexible approach of simply changing the first digit of their name would’ve served them well into 21st Century as they struggle, respond, endure and adapt to the hardship of future democrat-controlled governance.


7

as they struggle, respond, endure and adapt to the hardship of future democrat-controlled governance.




These wholesale discount retailers thrive during recession. So yeah, I agree, Democratic governance doesn’t really align well with recession. Maybe if the economy tanks, they’ll get a second wind.


-1

It worked for decades until this inflationary mess happened…


13

Very sad. Not only did folks rely upon these stores for the products they carried, now hundreds of people who relied on these stores for their livelihood are unemployed


37

It is sad. Remember, elections have consequences.


11