Mark Miller, CEO of Pic N' Save Bargains and former president of Big Lots, is leading investors to acquire 143 defunct 99 Cents Only Stores. The plan involves reviving the iconic brand known for bargain sales and Southern California appeal.
Miller intends to temporarily close the stores for around 90 days post going-out-of-business sales to renovate and reintroduce the 'treasure hunt' shopping style that made bargain stores like 99 Cents Only popular.
Dave Gold, the founder of 99 Cents Only Stores in 1982, discovered the success of selling surplus goods for 99 cents. The pending deal aims to save the chain after the recent announcement of closing all 371 stores across multiple states.
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