More Than 1,000 ‘Dollar’ Stores to Close Nationwide; How Will Your Philly Store Be Affected?

They're one of the nation's largest retail chains, and they just announced that they'll be closing a LOT of stores across the country.

Family Dollar and Dollar Tree Will Close 1,000 Stores

Family Dollar announced on Wednesday (March 13) that they plan to close about 600 locations in the first half of 2024. The closures will continue as they shut 370 stores over the next several years as the leases on those stores expire.

Additionally, Dollar Tree said they will close about 30 stores in that same timeframe. 

Which stores in our area are closing? We have some early speculation about that posted below. Keep scrolling.

Why is Family Dollar Closing Stores?

Dollar Tree bought the Family Dollar chain back in the year 2015 for a total of $8.5 billion. But, yes, the retailer has struggled a quite bit since the acquisition.

Analysts said that "Family Dollar stores were in poor conditions when Dollar Tree acquired the business back in 2015" according to a report from CNN. And "many stores under both brands are still poorly maintained."

READ MORE: Macy's to Close 150 Stores; Is Yours On the List? 

Inflation has certainly affected the brand as well. The company had a net loss of $1.71 billion Fox Business reported that the company had a net loss of $1.71 billion in the final quarter of 2023.

Which Family Dollar Stores in Pennsylvania (including Philadelphia) Will Close?

We have not seen a list of which stores in Pennsylvania will be locoing this year, but we'll likely see that list within the next few days since many of the stores are expected to closing a matter of weeks.

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It's also VERY likely that Pennsylvania will be hit pretty hard by the closing list because Family Dollar operates approximately 311 stores in Pennsylvania.

It's also likely that at least a few of those stores will be in the city of Philadelphia. The chain operates 41 stores within the city itself. 

"We have initiated a comprehensive review of our Family Dollar portfolio to address underperforming stores that are not aligned with our transformative vision for the company," the company's CEO Rick Dreiling told analysts.

Which Family Dollar Stores in New Jersey Will Close?

Similar to Pennsylvania, it's likely that New Jersey will see at least a handful of Family Dollar stores closing in the next few months.

We estimated that Family Dollar operates about 75 stores across The Garden State.

Much like Pennsylvania, however, we're not sure which ones will be closing (yet). But we expect that we should know that pretty soon.