Dollar Tree Set To Close 1,000 Stores Including 600 Family Dollar Locations In 2024 Due To Inflation And An Increase In Shoplifting!

Cousins! Residents of local neighborhoods will begin to experience a series of shutdowns in their communities following news that Dollar Tree and Family Dollar have plans to close out numerous store locations!

According to WWMT-CBS, the beloved retailer is currently making strides to close 1,000 Dollar Tree locations, including 600 Family Dollar stores. Their plans also include shutting down 370 more Family Dollar stores and 30 additional Dollar Tree stores in the next few years following the end of their leases.

The store shutdowns will account for roughly 15% of their store locations.

Reports read that the family brand’s sales have been severely impacted by inflation. Their customers who belong to low-income communities, have begun to shop around for deals and compare prices in an efforts of saving money.

Also, the retailer has indicated that the increase in shoplifting has played a major part.

“They might be the only store that serves the entire community in this area,” Dominick Miserandino of RetailWire tells CBS News. He explains that the store shutdowns will hit communities hard.

“They might have been one of the few jobs in the community.”

He added, “These communities are dependent on these stores.”

As of right now, WWMT- CBS reports that “Dollar Tree, which acquired Family Dollar for more than $8 billion almost a decade ago, has not released an extensive list of the locations they plan to close.”

Check out the list of Family Dollar stores scheduled for closing thus far via WWMT-CBS 3:

• Peoria, Illinois: Two Family Dollar stores in Peoria, Illinois are preparing to close their doors for good, according to the Peoria Journal Star. Banners on their exteriors indicate that they’re going out of business and that “everything must be sold.”
• Humansville, Missouri: The Family Dollar store in Humansville, Missouri, will shutter its doors, according to a KY3 report. A sign on the store’s door indicates the company is closing the location and urged customers to visit stores in Stockton and El Dorado instead. The store is reportedly slashing prices further to clear out inventory.
• Willow Springs, Missouri: A Family Dollar store in Willow Springs, also in Missouri, will close, according to a local news report. Cashiers at the store confirmed the closure to Howell County News. Merchandise is being discounted by up to 90%, according to the report.
• Middletown, New Jersey: A broad banner on the front of a Family Dollar store at the Eastpointe shopping center in Middletown, New Jersey hangs to let customers now it’s their last chance to shop there, according to the Asbury Park Press.
• Wilmington, North Carolina: Two Family Dollar locations in Wilmington, North Carolina, on Greenfield Street and Carolina Beach Road, are closing, according to WECT6. Employees at the stores said they haven’t been told when the closing date yet, however.
• Lynchburg, Virginia: Two Family Dollar stores in Lynchburg, Virginia are closing, according to WSET. The stores are located on Campbell Avenue and Federal Street.