Number Holdings, Inc. the parent company of 99 Cents Only Stores LLC (“99 Cents” or the “Company”), an extreme value retail store operator, along with several affiliates, filed for Chapter 11 bankruptcy protection in the District of Delaware Bankruptcy Court, docket #24-10719 (JKS) on April 8, 2024.
The Company is headquartered in Tustin, California and operates 371 stores in California, Nevada, Arizona, and Texas. According to court filings, the Company is conducting going out of business sales at 371 stores and will be selling all of its assets, including real property, in order to maximize value for its creditors and other constituents. Subject to Court approval, the Company has obtained $60.8 million in debtor-in-possession financing, which includes $35.5 million of new money, which was obtained from existing Company stakeholders. The Company has filed important first day motions with the Court, including requests for critical vendor relief.
If you are a landlord or trade creditor of 99 Cents, you may be a critical vendor and/or have certain priority rights in the bankruptcy case. It is important to know your rights now. Stark & Stark’s attorneys can help. Our bankruptcy attorneys regularly represent landlords and trade creditors throughout the country, including recently in the Eastern District of Missouri, District of New Jersey, Southern District of New York, District of Delaware, District of Minnesota and the Western and Eastern Districts of Pennsylvania regarding a variety of issues. Most recently, our Group has represented landlords and trade creditors in the Rite Aid, Joann’s, WeWork, Party City, David’s Bridal, Christmas Tree, Buyk, and Tuesday Morning chapter 11 bankruptcy cases.
For more information on how Stark & Stark can assist you, please contact shareholders Joseph Lemkin at (609) 791-7022 (jlemkin@stark-stark.com) or Thomas Onder at (609) 219-7458 (tonder@stark-stark.com).
