Next month, six Family Dollar stores in Philadelphia will shutter their doors. This local closure follows the recent announcement by Dollar Tree, the parent company of Family Dollar, revealing plans to close nearly 1,000 stores, with approximately 600 Family Dollar locations slated for closure in the first half of this year.

Michael Atcovitz, vice president of human resources for Family Dollar Stores, attributed the closures to a nationwide initiative targeting underperforming stores, as stated in a layoff notice mandated by federal law.

Additionally, the company will be closing multiple stores in New Jersey on April 20, impacting 94 employees, according to a separate notification.

Dollar Tree has encountered various challenges in recent times, including inflationary pressures and incidents of store theft, as reported by the Wall Street Journal. The acquisition of Family Dollar by Dollar Tree in 2015 for over $8 billion has presented difficulties in assimilating the chain, according to the Associated Press.

*Article courtesy of the Inquirer

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