Virginia-based Dollar Tree Inc., which acquired Family Dollar in 2015 for nearly $9 billion, is set to close as many as 390 Family Dollar locations this year and will rebrand some 200 others as Dollar Tree stores.
The company plans to renovate at least a thousand stores this year.
In the fourth quarter of 2018, the company closed 84 Family Dollar stores – 37 more than it had originally intended.
Dollar Tree said today it intends to seek rent concessions from landlords of the 84 stores it closed late last year or, it will speed up the pace of store closings – to as many as 390 locations. Dollar Tree closes about 75 stores annually. There is no word on whether any Tennessee Family Dollar locations are set for closure.
As of February 2, the company had 15,237 stores in 48 states and five Canadian provinces.