Family Dollar closing some NJ stores

Family Dollar, the large discount chain, has announced they are closing scores of stores, and some of the locations on the chopping block are starting to trickle out; at least three so far in New Jersey have been identified.

Family Dollar, which is owned by Dollar Tree, previously announced that they would be closing upward of 600 stores nationwide.

Family Dollar was founded in 1959 by Leon Levine in Charlotte, North Carolina. Initially, it was a small store selling goods for under $2.00. Over the years, it expanded rapidly, becoming one of the largest discount retail chains in the country.

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Family Dollar operates as a variety store, offering a wide range of merchandise at discounted prices. Its product range includes consumables, household products, apparel, and seasonal items. The stores cater primarily to low and middle-income consumers.

It experienced significant growth over the years through both organic expansion and acquisitions. In 2015, Dollar Tree acquired Family Dollar in a deal worth approximately $9.2 billion. Despite the acquisition, Family Dollar continues to operate under its own brand name.

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According to the Trentonian, two of the store closings will be in Trenton, one on State St. and one on Chambers St. In a statement, Dollar Tree’s CEO said,

As we look forward in 2024, we are accelerating our multi-price rollout at Dollar Tree and taking decisive action to improve profitability and unlock value at Family Dollar.

Another New Jersey store slated to be shuttered is in Middletown, according to the Asbury Park Press. The store is on Rte. 36 and is already having a store closing sale.

More closings are to be announced.

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