By Audrey Kemp

The shutdown not only marks the end of an era for price-conscious consumers, but also serves as a cautionary tale for even the most established businesses to stay agile in the face of increasing competition.

On Thursday, 99 Cents Only Stores, a staple discount retailer in the Western United States, announced the closure of its 371 locations across Arizona, California, Nevada and Texas. Liquidation sales of its in-store merchandise have already commenced.

In a statement, the recently resigned interim CEO, Mike Simoncic, lamented the necessity of the decision and the formidable challenges the company has faced in recent years. These including the Read full story ›

Source: The Drum