Dollar Tree Set to Acquire Shuttered 99 Cents Only Stores
Dollar Tree has reportedly made a bid to acquire approximately 100 recently closed 99 Cents Only stores, primarily located in Southern California, including cities such as Lancaster, North Hollywood, Burbank, Long Beach, and Riverside. The Chesapeake, Virginia-based company, which already operates hundreds of stores in California, is seeking to capitalize on the available locations after 99 Cents Only Stores announced closures last month due to shifting consumer demands and inflationary pressures.
The bid for the stores, which also includes locations in Arizona, Nevada, and Texas, is pending court approval. This development follows Dollar Tree's previous financial challenges, including its acquisition of Family Dollar Stores Inc. in 2014 and plans to close nearly 1,000 locations by 2025. The acquisition aligns with Dollar Tree's growth strategy and provides access to high-quality real estate assets in premium retail centers. Despite these closures, Dollar Tree aims to expand its footprint and reach more customers through the acquisition of these shuttered 99 Cents Only stores.
