The owners of discount retailer Family Dollar have announced that they plan to close 390 of its stores across the nation this year.
Reports say that since Dollar Tree purchased the Family Dollar chain in 2015, sales have been lackluster and that has prompted several closures as of late. While the company plans on closing 390 of its stores, they also plan on re-branding 200 other Family Dollar stores to become Dollar Tree stores. Dollar Tree also plans on writing off $2.7 billion, which is nearly 1/3rd of the value that they bought Family Dollar. In an earning statement, CEO Gary Philbin said that they are confident that they are taking all appropriate steps to re-position the Family Dollar brand for success.
As far as Indiana County goes, the county has only one Family Dollar store, and that’s on Route 119 near Home Station. Lists of the stores up for closure or re-branding have not been released.
