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Have you heard the important information about Family Dollar Stores?
"Dollar Tree offloads Family Dollar chain for $1 billion, ending a decade-long effort to find a fit."
Dollar Tree’s decade-long effort to fold the Family Dollar chain into its business is ending after agreeing to sell the bargain store chain to a pair of private equity firms for $1 billion.
Dollar Tree Inc. bought Family Dollar with its over 7,000 stores ten years ago for more than $8 billion.
Neil Saunders, managing director of GlobalData, said that Dollar Tree struggled with supply chain issues, poor store locations and other operational difficulties ever since making the acquisition.
“Basically, Dollar Tree bit off far more than it could chew,” he said.
Last year Dollar Tree announced that it planned to close hundreds of Family Dollar stores.
Family Dollar carries a range of household staples, from food to laundry detergent. The stores are largely located in underserved, urban areas. Store closings that are underway, and those that may take place under new ownership, are likely to have an outsized impact on customers living in those areas.
READ more info at:
https://apnews.com/article/dollar-tree-family-dollar-brigade-macellum-dfbeef22b260851cc1f95b6db9e93618
Tags: dollar family stores sold
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