Dozens of 99 Cents Only stores in California could reopen under a new name. Here’s where
Dozens of 99 Cents Only discount stores in California could reopen under a new name as early as the fall.
Dollar Tree announced Wednesday that it has acquired rights to a total of 170 leases for 99 Cents Only stores in California, Arizona, Nevada and Texas.
Dollar Tree completed the deal in May via two transactions that were approved by the U.S. Bankruptcy Court for the District of Delaware, the Virginia-based retailer said in a news release.
As part of the transactions, Dollar Tree also acquired “select on-site furniture, fixtures and equipment,” the release said.
“This was an attractive opportunity to secure leases in priority markets where we see strong profitable growth potential,” Dollar Tree chief operating officer Michael Creedon, Jr. said in Wednesday’s release.
The move will “provide us access to high quality real estate assets in premium retail centers,” he said, “enabling us to rapidly grow the Dollar Tree brand across the western United States, reaching even more customers and communities.”
Why did 99 Cents Only stores close in California?
99 Cents Only Stores closed all 371 of its stores across the United States in April after filing for Chapter 11 bankruptcy, The Sacramento Bee reported at the time.
Those included six stores in Sacramento.
- 2224 El Camino Ave., Arden Arcade
- 4440 Florin Road, South Sacramento
- 7424 Greenback Lane, Citrus Heights
99 Cents Only Stores LLC entered an agreement with Hilco Global to liquidate all merchandise and dispose of store fixtures, furnishings and equipment, the company announced, while Hilco Real Estate managed the sale of its real estate assets.
What is Dollar Tree?
Dollar Tree operates 16,774 stores across 48 states and five Canadian provinces, according to the news release.
Stores include Dollar Tree, Family Dollar and Dollar Tree Canada locations.
Which 99 Cents Stores could reopen?
Bill Read, executive vice president of Retail Specialists, posted a list of 112 Dollar Trees stores that could open in former 99 Cents Only locations on LinkedIn.
The vast majority of the stores on the list are in California, with most concentrated in Southern California.
They include locations at:
The Sacramento Bee reached out to Dollar Tree to confirm that those stores are among the ones slated to reopen, had not received a reply as of midday Thursday.
“Dollar Tree looks forward to welcoming customers from 99 Cents Only Stores as early as fall 2024,” the release said.
This story was originally published May 30, 2024 at 12:36 PM with the headline "Dozens of 99 Cents Only stores in California could reopen under a new name. Here’s where."