SAN DIEGO (FOX 5/KUSI) — The liquidation sale of all 99 Cents Only stores nationwide began April 5, and soon thousands of employees are expected to lose their jobs.

The company made the announcement to close because of financial difficulties.

The news of the 99 Cents Only stores closing left several shoppers dissatisfied. “It’s a great place, so it’s kind of upsetting,” said Andre Montoya, a shopper.

“I’m very disappointed,” added Don Burt, another shopper.

99 Cents Only to close down all stores

The company said it will wind down business operations at all 371 stores across Texas, Arizona, Nevada, and California, including 20 in San Diego County.

“What do you like to buy here?” FOX 5 Alani Letang asked Montoya.

“Every and anything they have, I buy dog toys, everything. It’s a one-stop shop for me,” Montoya answered.

“I like to buy to paper products, plastic products, and then decorations,” said Cynthia and Stephanie Xavier, shoppers at 99 Cents Only.

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“Some produce,” Burt said. “I’ve bought some dental floss, which has always been a good deal here.”

In a statement from the company, Mike Simoncic, Interim Chief Executive Officer of 99 Cents Only stores and Managing Director at Alvarez & Marsal, said the following in part:

“This was an extremely difficult decision and is not the outcome we expected or hoped to achieve. Unfortunately, the last several years have presented significant and lasting challenges in the retail environment, including the unprecedented impact of the COVID-19 pandemic, shifting consumer demand, rising levels of shrink, persistent inflationary pressures, and other macroeconomic headwinds, all of which have greatly hindered the Company’s ability to operate. We deeply appreciate the dedicated employees, customers, partners, and communities who have collectively supported 99 Cents Only stores for decades.”

The statement notes that Simoncic will step down.

“They’re facing a tough retail environment,” said Alan Gin, an economics professor at the University of San Diego.

Gin said the company’s reason for closing will likely be the demise of other discount brick and mortars.

“This comes on the heels of Dollar Tree last month indicating they’re going to close about 1,000 of their stores. So that might indicate that there is some of weakness in terms of this part of the retail sector,” Gin said.

Gin says the relatively small operation ending will not make a big impact on the local economy. However, it will make an impact for the company’s nearly 14,000 employees who are expected to lose their jobs.