Store operators 99 Cents Only Stores, based in Commerce, announced Thursday that they will close all 371 of their locations and liquidation sales will begin Friday.

The move will affect all of the company's locations in California, Arizona, Nevada and Texas.

Unfortunately, recent years have presented significant and long-lasting challenges to the retail environment, including the unprecedented impact of the COVID-19 pandemic, changes in consumer demand, rising levels of shrinkage, persistent inflationary pressures, and others. macroeconomic obstacles, all of which have greatly hindered the company's ability to operate," he added.

"We deeply appreciate the dedicated employees, customers, partners and communities who have collectively supported 99 Cents Only Stores for decades," he said.

According to the company, it has partnered with Hilco Real Estate to facilitate the liquidation of all merchandise, along with "certain fixtures, furniture and equipment in the company's stores."