Officials with the 99 Cents Only Stores discount chain, founded in 1982, announced the closure of its business operations in an April 4 news release.

According to the release, the decision to close down business operations came about for several reasons, including challenges in the retail environment, shifting consumer demand, COVID-19 effects and persistent inflationary pressures.

Among its 371 stores located in California, Texas, Arizona and Nevada, 18 stores are closing in the Houston area.

The 99 Cents Only Stores chain has entered into an agreement with Hilco Global to liquidate all merchandise owned by the company as well as dispose of fixtures, furnishings and other company equipment. Sales under the agreement initiated April 5, according to the release.