Local investor gives hope to save 99 Cents Only Store locations in SoCal

There may still be hope for Southern California’s 99 Cents Only Stores. 

While the chain declared bankruptcy, there’s an effort underway to keep some of them from shutting down permanently. 

A local man who knows the bargain store business well said that while the chain’s bankruptcy declaration will make things more difficult for him and the group of investors he’s gathered, it won’t stop them from working to find a way to keep stores in Southern California open. 

 Customers rush into a 99 Cents Only Store in Pico Rivera as they prepare for the chain’s closure. 

“Everyone is going to feel like not having the store open anymore.” Perry Morales, a shopper, said. 

For many, the store has been a lifeline, offering affordable prices that stretch tight budgets.

“Fabric softener. I would pay $20 for a big huge thing and here I was paying $5,” Destiny Hernandez, a shopper, said.

The chain is set to close all 371 locations nationwide, but there's a glimmer of hope for 143 Southern California stores

“I said ‘okay let's see if I can put some people together to buy this chain,’” Mark Miller, CEO of Pick N’ Save Bargains, said.

Miller, who is the CEO of Pick N’ Save Bargains and former president of Big Lots, is hoping to save the beloved bargain store.

He has put together a team of investors who want to continue the chain’s commitment to the community.

“It's still going to be oriented on food, consumables, general merchandise, seasonal,” Miller said. His plan is to save the stores by going back to the basics 

“It was a treasure hunt, you never knew what you were going to find. Never, never. And you went there because you said I never know what I'm going to find and I can also find some good basic things,” Miller said. 

He said bargain stores have struggled due to them trying to compete with traditional stores rather than embracing their unique appeal.

“That customer wants to be surprised. If you walk into a number of stores, sometimes you can close your eyes and you’re in the same store. I want customers to be able to come in and say, ‘wow, this place is different,’” Miller said. 

Back at the discount store, the news of a potential intervention of investors is bringing a sense of optimist to the community.

“If they’re able to save it, they’re saving a lot of people’s pockets a lot of money,” Hernandez said. 

“Hopefully it can be rescued,” Morales said. 

Customers are clinging onto hope that their beloved bargain store will stay open.

Apart from the communities being impacted, there are also thousands of employees who will be left without jobs. 

Tomorrow, the LA County board of supervisors is scheduled to vote on a proposal that would provide assistance to these workers once the stores close.