99 Cents Only Stores: Dollar Tree to Acquire 170 Leases
Bankruptcy Sale Strengthens Dollar Tree's Presence
Dollar Tree Expanding into Former 99 Cents Only Locations
In a significant move, Dollar Tree has announced the acquisition of leases for 170 former 99 Cents Only Stores. Following the latter's Chapter 11 bankruptcy filing in April, Dollar Tree has initiated a process to dispose of its assets.
With this acquisition, Dollar Tree will expand its reach in the discount retail market, bringing its affordable products and offerings to new communities. The stores are expected to reopen as early as fall 2024, offering a wider selection of merchandise to customers.
"This acquisition aligns with our strategic growth plan and provides an opportunity to serve additional customers in new markets," said Michael Witynski, President and CEO of Dollar Tree. "We look forward to welcoming 99 Cents Only customers to our Dollar Tree stores and introducing them to our unique value proposition."
As shoppers of the 99 Cents Only chain prepare to see a slight increase in prices, Dollar Tree's acquisition marks a significant shift in the discount retail landscape. The expansion of Dollar Tree's presence underscores the company's commitment to delivering exceptional value and convenience to its customers.
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