Canada Pension Plan Holding 99 Cents Only Stores Bankrupt

Posted on 04/15/2024

California-based 99 Cents Only Stores has filed for Chapter 11 bankruptcy. It had US$ 1 billion in assets and US$ 10 billion in liabilities. US$ 60.8 million in senior secured debtor-in-possession financing was attained to manage the wind-down. All real estate will be sold. Interim CEO Mike Simoncic stated: “This was an extremely difficult decision…

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