Dollar Tree announces the closure of 370 stores: is your local store in danger?

Following on from the news last March that Family Dollar had sold Dollar Tree stores to two private equity firms, a move which saw the closure of more than 1,000 Family Dollar stores as part of a major retreat from a troubled acquisition that never quite delivered. A further series of closures are expected to see more than 370 Dollar Tree outlets being forced to close their doors in the near future.

This move in March was part of a larger plan by Dollar Tree to focus on its core Dollar Tree business and improve profitability.

CEO Michael Creedon, who moved from chief operating officer to interim CEO and then CEO during Dollar Tree’s restructuring in recent months, said the separation from Family Dollar puts Dollar Tree in position to “achieve its full potential,” in a call with investment analysts last week.

“We will continue to grow and optimize our Dollar Tree business to maximize value for Dollar Tree associates, customers, and shareholders with an enhanced focus on compelling initiatives, including our expanded assortment, significant planned new store openings across the United States, and transactions that advance our growth strategy,”

Locations to be announced

At present there are no details relating to what 370 Dollar Tree stores will be closing with still more than 8,700 active retail outlets still operating across the United States with the bulk on the East coast of the country.

However, it’s California who has the highest number of stores with more than 790.

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