99 Cents Only Stores Closing All 371 Locations, Citing ‘Inflationary Pressures’

All 371 locations of the 99 Cents Only stores are shutting down, with company executives blaming the “difficult” decision on such causes as “inflationary pressures.”

The company, which opened its first location in 1982, boasts of having the “lowest price guaranteed” on its website. That claim is soon to be no more, with the operators announcing Thursday that liquidation sales will begin Friday.

An official press release said an “orderly wind-down of its business operations” is starting after entering a plea agreement with Hilco Global “to, among other things, liquidate...