LOT TO ASK
Former Big Lots president tries to save doomed 99 Cents Only locations and offer ‘more branded goods at great prices’
The industry veteran thinks the store could be even better than before
THE FORMER President of Big Lots has expressed interest in buying dozens of 99 Cents Only stores and preventing their closure.
The dollar store chain declared Chapter 11 bankruptcy April 4, putting 371 locations at risk.
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After 99 Cents Only announced the closure of all stores due to bankruptcy, a big-shot in the retail industry has said he wants to buy a large number of them and keep them open.
Interested buyer Marc. J Miller is the CEO of Pic 'N' Save Bargains and former president of Big Lots.
He has put together a group of investors to try and save the 143 99 Cents Only locations in southern California.
"It's a match, that we hope, made in heaven," he told Eyewitness News on ABC7.
Read more on the closure
"What I want to make sure is that yes, there's a big food business at the 99 Cents stores, and that we continue as far as great goods, great prices... great bargains, great treasure hunt items," Miller said.
"I want more branded goods at great prices."
Miller calls the potential purchase a "match made in heaven" due to his experience in discount retail.
He thinks the store could be improved on its previous model.
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"What I hope is going to happen here is that you're going to see a new, better, more unique 99 Cents store."
Miller told Eyewitness News that he hopes a deal can be struck soon, as liquidation sales are already underway.
Beloved dollar store closing 371 shops as CEO reveals reason for mass closure
The U.S. Sun has contacted 99 Cents Only for comment.
MORE ON 99 CENTS
99 Cents was founded in 1982 in Los Angeles.
Locally, it is a rival to chains such as Dollar Tree and Dollar General.
99 Cents Only has stores located in California, Arizona, Nevada, and Texas.
However, the 228 locations outside of Southern California are not included in Miller's plans.
DEATH OF THE DOLLAR
99 Cents Only is not the only dollar store to experience financial difficulty lately.
Last month, Family Dollar announced the closure of 1,000 stores over the next few years.
600 of these closures will come within the first half of 2024.
Read More on The US Sun
Approximately 30 Dollar Tree stores are also on the chopping block.
And see why Dollar General is removing self-checkout from its locations.