Popular dollar store to shutter ALL locations in ‘extremely difficult decision’

Discount store 99 Cents Only has announced it will shutter all 371 of its locations, citing high inflation and rising theft as the reason for the closures. Rival budget retailer Dollar Tree recently announced plans to shutter nearly 1,000 stores while also raising its price cap. Discount store 99 Cents Only has announced it will shutter all 371 of its stores, citing high inflation and rising theft as the reason for the closures Rival budget retailer Dollar Tree recently announced plans to shutter nearly 1,000 stores while also raising its price cap 'Unfortunately, the last several years have presented significant and lasting challenges in the retail environment, including the unprecedented impact of the COVID-19 pandemic, shifting consumer demand, rising levels of shrink, persistent inflationary pressures and other macroeconomic headwinds, all of which have greatly hindered the company’s ability to operate.' Meanwhile, Dollar Tree has announced plans to shut 1,000, Macy's has said it will cull 150 - a third of its total - and drug store Rite Aid is shuttering 77. It equates to a 21 percent increase ‹ Slide me › Fascinating data seen by DailyMail.com reveals that inflation has eroded around a third of the buying power of $100 at the grocery store in the last five years While all shops are struggling to keep up with hot inflation, it affects budget retailers worst due to their already-tight margins.