Family Dollar-Dollar Tree to Close 1,000 Stores Across US
Will this large nationwide closure affect WA state and the Columbia Basin? Not sure.
Family Dollar to close hundreds of stores
According to multiple business sources, Family Dollar, who is owned by Dollar Tree, will be shutting close to 1,000 stores nationwide as part of an effort to stave off losses.
Dollar Tree, according to business experts, focuses more on suburban and middle-income shoppers, whereas Family Dollar targets lower-income shoppers in more urban settings.
DollarTree purchased Family Dollar in 2015 for $8.5 billion, hoping to expand its customer base. According to CNN Business, it has been a struggle to integrate Family Dollar stores into the Dollar Tree family. Many of the Family Dollar stores were in worse shape than expected when they were bought.
In addition, the company was fined $40 million over a rat-infested supply warehouse that forced hundreds of Family Dollar stores to temporarily close.
Dollar Tree stock fell 13 percent following the announcement this week.
Will Dollar Tree stores be affected locally?
The plan is to close hundreds of Family Dollar stores, but only 30 Dollar Tree locations. We called several Tri-City Dollar Tree stores but were told the managers are not allowed to comment on any corporate decisions or changes.
The report did not immediately list what stores in what cities will be closing, only that 600 Family Dollar stores will close in 2024, another 370 will close as leases expire over the next couple of years, and 30 Dollar Tree locations will be shut down. The company owns just over 8,000 total stores.
The Family Dollar website shows two stores in WA, one in Darrington, and one in Pasco. There are 83 cities listed in WA as having at least one Dollar Tree store.
QUIZ: Can you identify 50 famous companies by their logos?
More From 870 AM KFLD
