99 Cents Only Stores Announces Business Wind-down and Liquidation Plans
99 Cents Only Stores Announces Wind-Down of Business Operations
CITY OF COMMERCE, Calif., April 4, 2024 — 99 Cents Only Stores LLC (“99 Cents,” “99 Cents Only Stores” or the “Company”) today announced plans to commence an orderly wind-down of its business operations.
The Company has entered into an agreement with Hilco Global to, among other things, liquidate all merchandise owned by the Company and dispose of certain fixtures, furnishings, and equipment at the Company’s stores.
Sales under this agreement are expected to begin April 5, 2024 and will be carried out at all 371 of the Company’s store locations.
Hilco Real Estate (HRE) is managing the sale of the Company’s real estate assets, both owned and leased, in Arizona, California, Nevada, and Texas. To help facilitate the wind-down, the Company has appointed Chris Wells, Managing Director at Alvarez & Marsal, as Chief Restructuring Officer. Mike Simoncic, Interim Chief Executive Officer of 99 Cents Only Stores and Managing Director at Alvarez & Marsal, will step down.
“This was an extremely difficult decision and is not the outcome we expected or hoped to achieve,” said Simoncic. “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.”
99 Cents Only Stores, together with its financial and legal advisors, engaged in an extensive analysis of all available and credible alternatives to identify a solution that would allow the business to continue. Following months of actively pursuing these alternatives, the company ultimately determined that an orderly wind-down was necessary and the best way to maximize the value of 99 Cents Only Stores’ assets.
99 Cents Only Stores LLC. (PRNewsFoto/99 Cents Only Stores) (PRNewsFoto/)
About 99 Cents Only Stores: Founded in 1982, 99 Cents Only Stores LLC currently operates nearly 371 stores located in California, Texas, Arizona and Nevada. 99 Cents Only Stores LLC offers a broad assortment of name brand and other attractively priced merchandise and compelling seasonal product offerings. For more information, visit http://www.99only.com/.
Editor’s Note: It’s disheartening to read about the closure of 99 Cents Only Stores, which have been around for over four decades. The surge in prices for goods and services, exacerbated by the challenges of COVID-19, has indeed been concerning. High demand often drives prices up, prompting the need to explore strategies for maintaining affordability. The drastic increase in rent prices, exemplified by the rise from $800 to over $1800 for a one-bedroom apartment since 2016, reflects a concerning trend. It’s crucial for those with wealth to prioritize affordability and resist greed. Nevertheless, we extend our best wishes to 99 Cents Only Stores as they navigate this challenging period.
Steven Escobar Founder and Owner of Diversity News Magazine files for name and domain trademark.
Los Angeles, California Jul 16, 2021 (Issuewire.com) – Diversity News Media Brands formerly Diversity News Publications publisher of Diversity News Magazine Org and Diversity News Magazine Dot Com files for Diversity News Magazine Dot Com trademark with the USPTO. Mr. Esteban Escobar aka Steven Escobar who is the owner and founder of Diversity News Magazine Dot Com files for company name and domain trademark.
The main reasons why Mr. Escobar during 2019 was not able to pay his renewal fees to GoDaddy was due to financial hardship and litigation expenses. When Mr. Escobar was ready to renew GoDaddy had sold the domain to a guy overseas from Pakistan who is a domain squatter. Immediately Mr. Escobar registered the domain name Diversity News Magazine Org while consulting with his colleagues and friends on ways to get back his Diversity News Magazine Dot com domain. Mr. Escobar was advised to trademark his domain name.
For your information, the domain squatter will first perform searches on the availability of domain names, which include business names, brand names, trademark names, or anything he or she feels will be valuable to the company willing to pay for. If it’s available, the individual buys the domain name, with the intent of selling it at a higher price to the owner of the business or the brand.
For those who does not know what Cybersquatting means, it means the practice of registering names, especially well-known company or brand names, as internet domains, in the hope of reselling them at a profit.
Diversity News Magazine archive.org photo of June 2019
So after purchasing the domain, the Pakistan domain squatter man contacted Mr. Escobar asking to give him access to his Gmail account and all his social media accounts. This Pakistan middle east man offered Mr. Escobar $100 US Dollars for all his social media profile pages. This Pakistan domain squatter did purchase Diversity News Magazine Dot com because he has read that Mr. Escobar needed money so he tried to Cybersquatting Mr. Escobar by asking him to sale all his social media profile accounts including Gmail for $100 US dollars. Mr. Escobar very well knows that his social media pages are worth more than $100 US dollars in fact he knows some of his pages are worth thousands of dollars.
Domain squatting is illegal. A domain squatter is blocking the rightful owner of the trademark or brand from acquiring the domain name and using it to increase his or her internet visibility.
The law looks at domain squatting as similar to holding a property (the domain name) in order to raise ransom, and it is considered a trademark infringement. If a domain squatter can’t prove a legal intent in owning the domain name, it is considered to be a bad faith registration, and he or she is considered guilty of domain squatting.
For those who does not know what Cybersquatting means, it means the practice of registering names, especially well-known company or brand names, as internet domains, in the hope of reselling them at a profit. The Pakistani guy would contact Mr. Escobar via Facebook and Twitter. One time the Pakistan man asked Mr. Escobar to buy back Diversity News Magazine Dot Com from him for a higher price.
Mr. Escobar has been keeping an eye on his domain and because he keeps getting emails from former readers, partners and colleagues asking if he is still in charge of Diversity News Magazine Dot Com. So after consulting with various colleagues, on 3-31-2021, Mr. Escobar decided to trademark Diversity News Magazine name and Diversity News Magazine Dot Com domain. Diversity News Magazine and Diversity News Magazine Dot Com are Mr. Escobar companies in the US. Mr. Escobar tells us that lots of middle east people are desperate to make a quick buck so they do this illegal things.
DiversityNewsMagazine dot com with trademark register logo
Mr. Escobar advices anyone reading this press release to secure your intellectual properties because out there in the battle field they’re desperate rats! Who trying to benefit on others hard work. To the individual that purchase Diversity News Magazine Dot com domain from the domain squatter you know that’s illegal and if you are a good person, you should have contacted Mr. Escobar directly but not been a desperate rat with no brains to start your own media site! Perhaps you haven’t read the newspaper or seen online news on how companies reach to each other to make deals to purchase a media outlet or a business to each other. They don’t go around looking for a domain squatter to cybersquatting a well know company name or brand name in this case domain name. Each company reach professional to each other to make the deal to purchase in this case a media outlet company.
So the Pakistan domain squatter researched Mr. Escobar Diversity News Magazine Dot com and Diversity News Publications Dot com domains and found out that Mr. Escobar is been investing, running and promoting Diversity News Publications and Diversity News Magazine since 2003 to the present which is over 18 years. Diversity News Publications and Diversity New Magazine are known and recognized in Southern California by many organizations including government officials. In fact Diversity News Publications and Diversity New Magazine has received multiple awards and nominations in Southern California from non profit organizations and government officials. To learn about our social impact in Southern California please click on Nominations and Awards at https://diversitynewsmagazine.org/about-us/nominations-awards/ Our service has been recognized by non profit organizations as well government agencies politicians.
Mr. Escobar wants to set the record clear that yes in deed he is the owner of Diversity News Magazine, DiversityNewsMagazine.com name and domain. Diversity News Publications Dot Com and Diversity News Magazine Dot com were founded in 2003 in Los Angeles, CA. The name Diversity News Publications which owns Diversity News Magazine Dot com was a registered business entity in the City of Los Angeles and as well Diversity News Magazine. Diversity News Media Brands formerly Diversity News Publications is the publisher of Diversity News Magazine Dot Com and Diversity News Magazine Org. So Diversity News Magazine is knows as a company name and a trademark as well his founder and owner Mr. Esteban Escobar aka Steven Escobar is known for those company and domain names. If you Google Diversity News Magazine Dot com and Diversity News Publications Dot com you will find that they are listed in various website directories and Mr. Esteban Escobar aka Steven Escobar is listed as the owner and publisher. Even lots of marketing and public relations emails press releases for publication to Mr. Escobar on his domains Diversity News Magazine Dot com, Diversity News Publications Dot com and Diversity News Magazine Org.
Sarah Jones who is currently violating our trademark domain name is a been a cybersquatting participant. Please note that she is not an employee, not an agent, not consultant, not a representative or is not part of Diversity News Magazine.com neither DiversityNewsMagazine.org or any other subsidiaries of Diversity News Media Brands. We ask that to be aware of possible fraud and scams where we are not to be held liable or responsible for the individual cybersquatting tactics.
So now that the United States Patent and Trademark Office has published that Mr. Esteban Escobar has filed for the trademark DIVERSITY NEWS MAGAZINE – DIVERSITYNEWSMAGAZINE.COM. Mr. Escobar issue a Trademark Infringement – Cease and Desist and Domain Trademark Infringement – Cease and Desist to the known Registrar and Hosting companies as well the contact in the domain Whois dot com which is mostly private. So Mr. Escobar received a response from the person that may have bought Diversity News Magazine Dot com from the Pakistan domain squatter. The person is refusing to cooperate by transferring Diversity News Magazine Dot com to Mr. Escobar hosting company. Also knownhost.com for privatesystems.net which is one of the hosting companies, a representative has responded stating that the trademark is not true enforceable because is in process at the United States Patent and Trademark Office (USPTO).
GoDaddy has responded to our Domain Trademark Infringement – Cease and Desist letter – – [Incident ID: 45255087] on July 16, 2021 providing the following response:
“The website is not hosted by GoDaddy. We ask that you please note the following information:
The registrar is the company that sells a domain name registration to a person or company. The registrant is the person or company that purchases a domain name for use. The hosting provider is the company that provides space on its computers for the files that make up the content of the website. Name servers do not determine the hosting provider of a website. Website content is not stored on name servers.
While GoDaddy offers services as both a registrar and a hosting provider, this does not mean that we provide both services for every domain that is registered through our company.
If you first identify the IP address of the website, you can then find the hosting provider that IP address is assigned to. In most cases, this is a much more accurate method for determining who is hosting a website. You’ll want to reach out to the hosting provider that the IP address is assigned to for further assistance with this content based issue
Also, our internal policies, as well as ICANN regulations, prevent us from acting as the arbiter of domain name disputes. We are not able to assist you with claims regarding the wording of a registered domain name.
Complaints of this nature need to be taken up with the domain name owner directly, or should be filed in a UDRP or court proceeding.
Chris Trademark Department Go Daddy Operating Company, LLC TrademarkClaims@GoDaddy.com”
Mr. Escobar just want his the infringement person or individuals to stop using his domain name. Mr. Escobar is the one who has expend many years and thousands of dollars on Diversity News Magazine Dot com in the domain online footprint. He would not do something like that if he is not interested on it. So the domain squatter knew what he was doing just to get a quick buck. Mr. Escobar thinks that Sarah John who has been hiding her identity may have fall on the domain squatter fraud and scam.
Archive org Diversity News Magazine November 2019 page 2
For those of you reading this press release let me tell you that the current person communicating with you of the name of Sarah John is not the owner of Diversity News Magazine Dot com and by not cooperating she is been participating in Cybersquatting which is illegal. If you get a response from her please be aware that she does not own Diversity News Magazine dot com and be cautions of fraud and scams from her. Mr. Escobar does not want to consider a lawsuit against the infringer. That only thing Mr. Escobar wants is his domain name to be transfer to his hosting company because that’s his trademark! So please contact Mr. Escobar at his cellular 213-321-9408 or email to: diversitynewsmagazine@gmail.com
