Dollar Tree Plans to Close Nearly 1,000 Family Dollar Stores
Posted on March 16, 2024
Dollar Tree has announced plans to close nearly 1,000 stores. The plan calls for the closure of 600 Family Dollar stores this year and another 370 stores will close as their leases expire. 30 Dollar Tree stores will also close when their leases expire.
An official list of the stores that will be closing has not yet been released. Dollar Tree is the parent company of over 8,000 Family Dollar locations. Axios cites 8,415 Dollar Tree and 8,359 Family Dollar stores as of early February.
A CNN report says the Family Dollar brand has suffered in recent years:
Years of mismanagement and poor conditions in stores have hurt Family Dollar’s brand. Family Dollar, which is owned by Dollar Tree, was recently fined more than $40 million for a rat infestation at a warehouse that forced hundreds of stores to temporarily close.
U.S. News says Dollar Tree has had difficulty absorbing Family Dollar since the 2015 acquisition.
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