He added: "We deeply appreciate the dedicated employees, customers, partners, and communities who have collectively supported 99 Cents Only Stores for decades." The company explained it had sought legal and financial advice to find ways to continue trading but ultimately decided closure was the right option. A company statement explained: "Following months of actively pursuing these alternatives, the company ultimately determined that an orderly wind-down was necessary and the best way to maximize the value of 99 Cents Only Stores' assets."