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Goodbye 99 Cents Only. Hello Dollar Tree.
Dollar Tree announced Wednesday it acquired leases for 170 of 99 Cents Only’s stores out of bankruptcy in Arizona, California, Nevada and Texas. Dollar Tree will reopen these stores with its own products under its brand beginning in the fall.
99 Cents Only had filed for bankruptcy in April and closed all of its 370 locations.
The two chains are very different, and the announcement is a sign of consolidation in the retail industry.
99 Cents Only was a regional chain and sold groceries. Dollar Tree, a national company with mostly suburban locations, primarily offers discretionary merchandise like party supplies and home goods.
