99 CENTS STORE CLOSURES SPARK EBAY SALES

After 40 years in business, the CEO announced earlier this month that all 371 locations of the 99 cent store will be officially closing. Now several people are stocking up on discounted items, while others are flocking to eBay to sell them at inflated prices. The 99 cents only chain filed for Chapter 11 bankruptcy protection in April after months of rumors of its closing. Several shoppers have flocked to the store since the announcement to purchase the last of the discounted items. Videos posted online showed several customers simply walking past the cashiers with items filled to the rim of their carts without paying. Others are flocking to online resale sites like eBay to sell their 99 cent only store merchandise. Prices range from $85 to $99 for the 99 cent store brand plastic reusable bag. Other items such as 99 cent store hats, bags and pins are being sold for $150 and are being described as rare items. The 99 cents only stores have locations in Arizona, California, Nevada and Texas. The CEO said in a statement, this was an extremely difficult decision and is not the outcome we expected or hoped to achieve. He goes on to say, we deeply appreciate the dedicated employees, customers, partners and communities who have collectively supported 99 cents only stores for decades. He said those challenges included the COVID-19 pandemic, shifting consumer demands, rising levels of shrink and inflationary and macroeconomic pressures. One customer told us his thoughts on the store closure. I spent 16, I actually spent my last $16 on this because I think it will provide for my income. I hope it does. I'm late on lots of bills, but you know, no, but honestly, there are so many great finds. What's funny is the way that they're going out of business, their exit is actually very profitable. One of the employees told me that this is one of the original 99 cent stores here in the city of Omani that opened in 1982. He said they will officially close their doors the first week of June. Christina Corona, NTD News, Omani.