Family Dollar And Dollar Tree Announce Store Closures

Over the years, the companies have struggled as discount competitors such as Dollar General and Walmart grew.

Family Dollar announced it will be closing around 1,000 stores.

The retailer will close 600 locations in the first half of this year and 370 stores over the next several years as store leases expire.

Family Dollar has nearly 8,000 stores in the U.S..

Dollar Tree, which owns Family Dollar, also said it will be closing 30 stores as leases expire.

Over the years, the companies have struggled as discount competitors such as Dollar General and Walmart grew.

More recently, inflation has hit consumers and the chain’s profits.

The closures are likely to leave a void for Americans with limited shopping options.