2 Major Retail Chains File Bankruptcy, Closing Stores In CA

With news of different retail stores filing for bankruptcy and closing stores throughout the nation, it is sad that this is becoming a daily occurrence.

Now word comes that two major retail chains through out the United States will be shuttering its doors. Many of those locations in the Golden State.

The 99 Cents Only store stated on April 4th that it would liquidate and close all of its stores in California, Nevada, Texas, and Arizona (a total of 371 stores).

99 Cents Only, having filed for Chapter 11 protection this past Thursday (April 7th, 2024), now stands at a crossroads.

The future remains uncertain, and only time will reveal if they can successfully rebuild and make a comeback.

Rite Aid is the other store announcing more closures.

tsm/Timmy!

They filed for Chapter 11 back in the middle of October 2023, since the chain has been closing their pharmacy/stores across the country due to competition and other legal matters involved in the opioid epidemic.

With the new announcement, Rite Aid will be closing over 50 more of its locations, with a majority of them being in California.

Since the initial Chapter 11 filing, a staggering 309 of its stores have closed, a significant number from the 2,100 locations the chain had in October of last year.

Townsquare Media

Hopefully all of the people who will be out of a job due to these closures will be able to rebound quickly and with little stress.