Heartbroken shoppers mourn loss of 371 budget stores as final deal signs put up (2024)

SHOPPERS are devastated as 99 cent stores across the nation finalize their closures and Dollar Tree takes over.

In April, 99 Cents Only Store filed for bankruptcy and later announced plans to close all 371 locations across the country.

The business's 42-year run was brought to a close by rising inflation rates and an inability to keep an operational profit margin.

As the store was run out of the market by larger discount stores, Dollar Tree Inc. has actually acquired the properties of nearly 170 of the now-bankrupt 99 Cents Only Stores.

Dollar Tree's own business and profits have been tumultuous over the past few years, closing around 1000, mostly Family Dollar, locations since 2023.

But unlike the 99 Cents Only Store, Dollar Tree locations have been able to adapt to economic inflation by raising prices and expanding product offerings.

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Dollar Tree Chief Operating Officer Michael Creedon explained that the acquisition of the 99 Cents Only Store locations mark an opportunity for profitable growth.

“The portfolio complements our existing footprint and will provide us access to high-quality real estate assets in premium retail centers, enabling us to rapidly grow the Dollar Tree brand across the western United States, reaching even more customers and communities,” he said, reported AP.

The company anticipates most of the new locations to open in the Fall.

San Diego State University marketing lecturer Miro Copic explained that the downfall of discount stores comes after they changed their business models during the COVID-19 Pandemic.

“One of the challenges in retail is how do you maintain and negotiate with manufacturers to get a very competitive price point for products that people are looking for when there's been substantial inflation,” Copic said.

He said that the loss of stores is likely to impact lower-income families.

“It's very disappointing because this type of retailer really provides excellent value for lower and lower-middle consumers, and now they're going to need to find other options that are available to them,” Copic said.

99 CENTS ONLY STORES 'SAVED ME'

As Dollar Tree takes over the locations, many of loyal 99 Cents Only Store shoppers are mourning the loss while taking advantage of closing deals.

Andrea Williams was shopping at a closing location in San Diego, California, while she explained her feelings on the subject.

“It’s going out of business — I’m gonna go crazy in there!” she told her daughter.

Her daughter, Nicole WIlliams, responded with excitement.

“Ma! We’re going to the other locations too,” Nicole said.

“You know, the ones that (people) don't use that much with the good stuff?”

Despite the family's excitement over the quick closing deals, they also remember a time when the stores saved them.

Andrea's granddaughter, Nicole's daughter, Nairobi Williams told KPBS how the store kept her family afloat at times.

“We've known how to thrive, but sometimes in that moment when you can't thrive, you have to survive — the 99 Cents stores and Dollar Trees and even Family Value stores, they have helped us in a bit of a pinch,” Nairobi said.

Karen Gardner, a senior policy associate at the Center for Science of the Public Interest fears that the reduction of discount stores, like the 99 Cents Only Stores, will drastically impact families.

“We found that dollar stores are a significant source of food, especially for those who are food insecure, participating in SNAP(Supplemental Nutrition Assistance Program), are younger or are parents,” Gardner said.

“Seventy-six percent of respondents said that they shopped at dollar stores as a way to stretch their budget at the end of the month. Sixty-five percent of Snap participants in our study said that they shop at dollar stores when their SNAP benefits are running low.”

Nairobi sees her family having to rely on other, more expensive options.

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“To hear and even see (99 Cents Only Stores are) going away, that makes you rely on other places like Walmart and whatever else is local,” she said.

“With the stores, when you're needing them more … they're seeing that their value is going to go up.”