Beyond the Storefront: The 99 Cents Only Stores Closure Affect by Amelia Henry Special to Las Vegas Business Press
The closure of the 99 Cents Only Stores amid its bankruptcy filing is more than just the loss of a bargain retailer; it’s a significant hit to communities, especially those grappling with food insecurity and rising living costs. Established in 1982 and once a lifeline for budget-conscious shoppers, the store’s departure leaves a void in affordable grocery options, hitting hardest in lower-income and minority neighborhoods. With food prices soaring and wages stagnating, the closure of these stores not only affects employees but also puts additional strain on households that depended on its deeply discounted products. The future of these locations remains uncertain, with potential new tenants like smaller grocers and regional chains looking to fill the gap, offering a glimmer of hope for both landlords and budget-minded consumers. This development poses both challenges and opportunities in the retail landscape, particularly in Las Vegas, where the company is looking to sell or lease out its real estate.
Click HERE for the full article in the Las Vegas Business Press written by our very own Amelia Henry, CCIM. A must-read offering a deep dive into the implications for the local economy and the opportunities for new retailers to step in.
