Friday Aug 17 2012
Wise Buys in Roseville to close its doors
By: Scott Thomas Anderson, The Press Tribune
All three locations to close, more than 100 employees to lose jobs
Discount retail store Wise Buys Liquidators Inc., which operates in Roseville, Folsom and Elk Grove, is calling it quits. This means more than 100 employees between the three locations will soon lose their jobs. On Aug. 17, Wise Buys Marketing Director Jim Butcher confirmed the company had run its course. Butcher said all employees had been notified and final steps were being taken to close the doors. He added that a private party will begin to liquidate the stores beginning Aug. 20. Wise Buys is the second store in three weeks to close in the Roseville Square Shopping Center, which has existed along Harding Boulevard since the 1960s. Sunflower Farmer’s Market was shuttered at the start of August. The Dress Barn also recently closed its doors in the shopping center. Butcher said the news came as a blow to management and employees. “It something we’re all sorry to hear, we really loved this place,” he said. Wise Buys was formed in September 2008 by Granite Bay business veteran Gary Cino, who proved to be a discounter innovator in 1983 when he founded the 98 Cent Clearance Centers chain. Cino grew that company into a modest empire, with more than 66 stores stretching from California to Nevada. Dubbed by some “the bargain king,” Cino eventually sold 98 Cent Clearance Centers to Dollar Tree Stores Inc. in 1998. His next venture was Wise Buys, which he termed “a dollar store on steroids” at the time. The main concept for the business was to cap all items — from jewelry to Christmas trees — at $9.98. “Myself and the founders have a real passion to participate in the art and science of discount selling,” Cino told the Press Tribune in 2008. Scott Thomas Anderson can be reached at email@example.com. Follow him on Twitter at ScottA_RsvPT.