What does this mean for the Capital Region locations?
If you shop at Family Dollar, there's a good chance a liquidation sale will be happening soon. Dollar Tree, which owns Family Dollar, announced on Wednesday that they plan on closing as many as 600 stores in the first quarter of 2024. An additional 370 Family Dollar and 30 Dollar Tree locations will also close down as their leases expire.
The closures are mostly hitting stores that underperformed in 2023. In a press release, Chairman and CEO Rick Dreiling says:
While we are still in the early stages of our transformation journey, I am proud of what our team accomplished in 2023 and see a long runway of growth ahead of us. As we look forward in 2024, we are accelerating our multi-price rollout at Dollar Tree and taking decisive action to improve profitability and unlock value at Family Dollar.
Both chains have a number of stores in the Capital Region and surrounding areas, but the company has not yet revealed which specific locations will be closing.
