99 Cents Only Stores

In t And the reason for that is, on April 4th they announced they will be closing all of their stores and liquidating the company. The liquidation started the next day, and it even includes the buildings if they own them. If you're not familiar with the 99 cents only stores, they're a discount retailer similar to places They have locations in California, Arizona, Nevada, and Texas, but about half of those 371 locations are in California. The reasons that the company has given for why they're shutting down are things Back in 2011 they were purchased via a leveraged buyout for $1. 6 billion, and if you don't know what a leveraged buyout is, that basically means that the money that they were purchased for that $1. 6 billion was new debt that was tacked on to any debt the company already had. Almost exactly five years ago I did a video covering 99 cents only stores because a lot of that debt from the leveraged buyout was going to start coming up to be due at the time, and I felt As a matter of fact, the last year that the 99 cents only stores were profitable was in 2015. W I think really what killed them is being enc I mentioned earlier that these stores are similar to places I don't Now there isn't much left on the shelves here, but what is here is stuff that you definitely wouldn't find at any other discount store What I find interesting about store liquidation sales is that you can start to see the years of built up grime and stuff that's usually I know that looks pretty bad, but even at fancy grocery stores when you just peel back a few layers, they look