Dollar stores looking to close locations
(CNN / KYMA, KECY) - Family Dollar and Dollar Tree are set to close nearly 1,000 stores.
Family Dollar will close 600 stores in the first half of this year and at least 370 more over the next several years as store leases expire.
Their parent company, Dollar Tree, said it will close 30 stores as leases expire.
Many Family Dollar stores have been plagued by health and safety concerns.
The struggling discount chain was hit with a record $41.5 million fine for violating product safety standards.
Dollar Tree bought Family Dollar in 2015 for $8.5 billion.
The combined company hoped that by joining forces it could fend off bigger retailers like Dollar General and Walmart.
