99 Cents Only Stores
PE-OwnedAres Management and Canada Pension Plan Investment Board acquired 99 Cents Only in 2011 for $1.6B via leveraged buyout. After years of declining performance, Ares concluded liquidation would maximize returns. Filed Chapter 11 in April 2024 and closed all 371 stores by June 2024. Locations sold primarily to Dollar Tree.
Founded: 1982|Acquired by Ares Management (2011) — $1.6 billion
3
locations tracked
Ownership Information
99 Cents Only Stores is owned by Ares Management. Private equity ownership often leads to cost-cutting, price increases, and reduced quality of service as firms prioritize returns for investors over customers and employees.Learn more about PE ownership impact →
Timeline
1982
99 Cents Only Stores founded
2011
Acquired by Ares Management for $1.6 billion
Community Reviews
Share your experience →Tracked Locations
AZ (1)
Phoenix
1813 Main St
Phoenix, AZ 85001
555-110-4774
MN (1)
Minneapolis
7933 Main St
Minneapolis, MN 55401
555-625-8669
OH (1)
Cleveland
4681 Main St
Cleveland, OH 44101
555-167-1516