The discount chain 99 Cents Only Stores is closing all of its locations after more than 40 years in business.
The company announced the "wind-down of its business operations" in a press release on Thursday afternoon.
"This was an extremely difficult decision and is not the outcome we expected or hoped to achieve," said Mike Simoncic, interim chief executive officer, in a statement. "Unfortunately, the last several years have presented significant and lasting challenges in the retail environment."
Liquidation of all merchandise is expected to begin Friday.
At a Tempe store on Friday morning, there was no official indication it was closing. An employee said he expected to put up signage about the closure later in the day.
The company says it has 371 stores in Arizona, California, Nevada and Texas. There are nearly 40 locations in Arizona, including more than 20 in metro Phoenix.
