Dollar Tree closing 600 Family Dollar stores across the US
Dollar Tree has announced that it will close 600 of its Family Dollar store locations this year.
In addition, another 370 Family Dollar stores, and 30 other Dollar Trees will close over the next several years once their leases expire. The total reduction by the company will account for 15 per cent of its storefronts.
Despite its cheap offerings, inflation has weakened the buying power of the retailer’s customer base, and has driven buyers to seek the best deals for their money, according to CBS News.
In addition to inflation pains, a rise in shoplifting has also hurt the company’s bottom line.
Dollar Tree has not released a full list of stores that will be closing.
The following is a partial list of the stores that will be closed, per a CBS News report:
Slocomb: 534 Lawrence St
Tallahassee: West Brevard Street
Peoria: two stores in the city will close
Canton: 1074 Peace St
Clinton: 222 Clinton Blvd
Collins: 816 Main St
Columbus: 60 Mike Parra Rd.
De Kalb: 14916 Hwy. 16 W.
