Discount chain 99 Cents Only Stores is winding down its business and selling hundreds of branches

• 99 Cents Only Stores, a discount chain with branches in several states, is winding down operations.
• It's selling its 371 stores and will liquidate its merchandise and fixtures.
• The company blamed a number of factors including the pandemic, shrink, and inflation.

Discount chain 99 Cents Only Stores is closing down.

The retailer, which has 371 stores in California, Texas, Arizona, and Nevada, said on Thursday that it was winding down its business operations.

It will have liquidation at all its stores and will also sell its real estate.