390 Family Dollar stores to close or be re-branded as Dollar Tree

Wednesday, March 6, 2019
Family Dollar to close nearly 400 stores
Family Dollar to close nearly 400 stores

Family Dollar has announced that 390 stores will close or be re-branded in 2019.

According to CNN, Dollar Tree--which owns Family Dollar--also plans to make big changes to the Family Dollar stores not included in the closing and re-branding effort.

"We are confident we are taking the appropriate steps to reposition our Family Dollar brand," Dollar Tree CEO Gary Philbin said in a news release Wednesday.

Family Dollar, which sells a variety of items for under $10, was bought by Dollar Tree in 2015.

CNN said investors of Dollar Tree, which sells all items for $ 1 (with the exception of some 89 cent candy), have been pushing the company to sell or change the ailing line.

Company officials want to re-brand some of the locations as Dollar Trees and renovate others with Dollar Tree merchandise.

A list of closing locations has yet to be released.