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California  + Los Angeles  + Distressed Assets  | 

Dollar Tree Reportedly High Bidder for 100-Plus 99 Cents Only Locations

Dollar Tree is reportedly the winning bidder for at least 93 shuttered 99 Cents Only stores spread across California, the Orange County Register reported, citing information from brokerage Retail Specialists. Most of the stores are in Southern California.

In total, Dollar Tree successfully bid on 112 99 Cents Only locations, including a handful in Arizona, Nevada and Texas, according to Retail Specialists EVP Bill Read, with Ollie’s Bargain Outlet winning rights to another 11. The bids and the undisclosed terms are subject to bankruptcy court approval. 

In early April, Commerce-based 99 Cents Only Stores LLC announced it would close all 371 of its stores and filed for bankruptcy. The company entered into an agreement with Hilco Global to handle the sale of its real estate assets, both owned and leased.

“When one chapter ends, a new one begins,” Read posted on LinkedIn. “That’s retail.”

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

  • ◦Sale/Acquisition
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