Nearly half of the 99 Cents Only Stores that closed will be reopening as a different discount retailer.FILE - A pedestrian walks past a 99 Cents Only store under light rain in Los Angeles Wednesday, Dec. 5, 2018.7:25 AM PDT May 30, 2024Dollar Tree locationsThe transfer of designation rights for 170 locations in Texas, Arizona, Nevada and California, along with some of the furniture, equipment and fixtures inside, was approved by the United States Bankruptcy Court for the District of Delaware.
Dollar Tree posted a surprise loss in its final quarter of 2023 and said that it would close nearly 1,000 stores, most of them Family Dollar stores that it had acquired a decade earlier for Dollar Tree Chief Operating Officer Michael Creedon said in a prepared statement on Wednesday that the one-time 99 Cents locations are in priority markets where it expects strong growth potential.
“The portfolio complements our existing footprint and will provide us access to high quality real estate assets in premium retail centers, enabling us to rapidly grow the Dollar Tree brand across the western United States, reaching even more customers and communities,” he said.
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