On the record · Other
99 Cents Only Stores
Ares 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.
Research depth
Outcomes researched
Reviewed operating findings or a classified operating outcome are available.
Record updated Sept. 4, 2026
Current ownership
Current owner not established
This record does not identify a current owner. That absence is a gap in the record, not a conclusion about ownership.
1 ownership record has an unresolved current/former status.
Ownership and transaction history
Chronology from recorded ownership periods, transactions and reviewed outcome events. Event order does not imply causation.
April 5, 2024
Operations ceased
Operating outcome
Date not recorded
What happened under and after ownership
Operating outcome
No longer meaningfully operating
Number Holdings filed Chapter 11 on April 7, 2024, days after announcing on April 4 that it would close all 371 stores and wind down the business; liquidation sales began April 5, 2024.
Dollar Tree bought the 99 Cents Only name, website and 170 store leases in a court-approved May 2024 sale; no 99 Cents Only store or website has operated since.
- Founded
- 1982
- Sponsor at closure
- Ares Management and Canada Pension Plan Investment Board
- Fortune · 2024 · closure announcement, all 371 stores, liquidation start, Chapter 11 filing days later
- Retail Dive · Dollar Tree acquired the IP, name, logo, website and 170 store leases; not a going-concern revival
What we do not know
These are gaps in the public record, not findings about the organization.
- No current public ownership assessment has been published.
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