Tatazeter – Numerous closed 99-cent coins The only places that could reopen as Dollar Tree stores were those in Texas, Arizona, California, and Nevada.
The low-cost retailer revealed on Wednesday that it had purchased the rights to 170 99 Cents Only locations in the four states.
In May, two deals were executed to finalize the acquisition of the shop leases.
The chief operating officer of Dollar Tree, Michael Creedon, Jr., said in a statement, “As we continue to execute on our accelerated growth strategy for the Dollar Tree brand, this was an attractive opportunity to secure leases in priority markets where we see strong, profitable growth potential.”
“The portfolio enhances our current presence and gives us entry to first-rate real estate holdings in upscale shopping malls, allowing us to quickly expand the Dollar Tree brand throughout the western United States and reach even more consumers and communities.”
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As early as this autumn, Dollar Tree intends to greet 99 Cents Only patrons at the reopened sites.
99 Cents Only Stores declared in April that it was closing all of its sites, citing growing inflation, shifting consumer demand, and financial challenges brought on by the epidemic.
The well-known discount retailers were well-known for offering a large selection of goods at deeply discounted costs, including office supplies, party supplies, fresh groceries, snacks, home goods, and cosmetics.
While 99 Cents Only had stores all across the Golden State, including in Sacramento, San Jose, Los Angeles, Bakersfield, and San Diego, Dollar Tree did not say which of its sites would reopen.
At the moment, Dollar Tree has over 17,000 locations in 48 states and five provinces in Canada.
