The company announced all stores would close beginning April 5, 2024 and culminated on June 3, 2024 due to financial hardship.

[4] "Whenever I'd put wine or cheese on sale for $1.02 or 98 cents, it never sold out," Gold said in a 2001 interview with The Los Angeles Times.

"[5] On August 13, 1982, Dave and Sherry Gold opened the first 99 Cents Only Store at 6921 La Tijera Boulevard,[6] in Inglewood, near the airport.

[11][13] In October 2011, the company agreed to a $1.6-billion buy-out by private equity firm Ares Management and the CPP Investment Board.

[17] On March 28, 2024, the company warned that it may be forced to file for Chapter 11 bankruptcy within weeks as it faced a liquidity shortfall and a stalled-asset sale.

[18] On April 4, 2024, 99 Cents Only Stores announced that it would permanently close all of its remaining 371 locations and lay off its 14,000 employees within the coming months, with liquidation sales to be held by Hilco Global.

The affected stores would temporarily close for up to 90 days after liquidation sales are complete to make way for renovations and restocking, and then reopen soon after.

[22] On May 24, 2024, Ollie's Bargain Outlet announced that they would be acquiring 11 former 99 Cents Only leases, most of which are set to open by the end of 2024.

One advertisement wished Joan Rivers a "Happy 99th Facelift", another congratulated the "(Los Angeles) Dodgers on Losing 99 Games.

"[5] The company also celebrated the 99th birthday of public figures and named 99-year-old individuals as honorary spokespersons for 99 Cents Only Stores.

The store mottos included: "Do the 99", "Low prices are born here, and raised elsewhere", featuring a picture of a baby chick.