Business
Family Dollar will close almost 400 stores
Family Dollar sells a variety of items for under $ 10 in rural and urban locations. Dollar Tree bought the company in 2015. But Family Dollar has struggled, and Dollar Tree is under strong pressure from an activist investor to sell or revitalize the weak line.
Dollar Tree ( DLTR ) selling everything for $ 1 and targeting medium-sized suburban retailers, has a Family Dollar plan: close stores, re-brand in some places like Dollar Tree, and renovate others with $ 1 Dollar Tree merchandise sections.
"We're sure we're taking the right steps to relocate our Family Dollar brand," says Dollar Tree CEO Gary Philbin in a press release Wednesday.
This is a developing story.
