Family Dollar Closing 390 Stores
In yet another announcement about closing retail stores, Family Dollar announced this morning that it would be closing close to 400 stores across the country. The latest move for the discount retailer is a bit of a shock, but isn't a death knell for the company.
The latest move is meant to help restructure the company to be more profitable. The plan is to close 390 stores, then re-brand them as Dollar Tree stores (Family Dollar's parent company) and reopen them. What's the difference? According to WRAL, Family Dollar sells items for under 10 dollars and Dollar Tree sells everything for $1
Dollar Tree purchased Family Dollar in 2015, and has struggled to keep the stores profitable. Investors have been pressuring the company to either turn things around or sell off the brand. No dates or specific locations have been announced at this time.