Dollar Store Chain Could Be Closing Michigan Stores Soon

It seems like every time we turn around, we are talking about another business is closing. Whether it be a small locally owned business or a large corporation, everyone has been struggling as inflation continues to affect the prices of goods while also recovering from the unprecedented shut down that set the world behind for what feels like years. Our economy may never reach what it was like before the pandemic which means the shopping landscape may look very different.

Back in 2015, Dollar Tree put their money where their mouth was and managed to outbid their competitor Dollar Tree for the ownership rights to Family Dollar. Arguably this would turn out to be a bad decision as Family Dollar was not an easy chain to take in, as the chain has caused nothing but headaches and hassle to Dollar Tree since they took over. Now, Dollar Tree has decided to make changes to keep themselves from losing even more money and will be closing 1,000 of their locations, which may affect Michigan.

I'm sure that almost all of us try to bargain shop whenever we get a chance to, this is the reason that dollar stores, discount stores, and wholesale stores exist. As humans we are naturally inclined to want the best bang for our buck and often times these are the stores that are able to offer that to us. One of those stores is about to take a major hit all across the country as their profits have not been up to par.

Dollar Tree has announced that they will be closing 1,000 of their store locations across the United States to offset the quarter four losses from the previous year and to keep from having revenue losses in the future. Dollar Tree also owns Family Dollar, so they will be closing locations for both brands, with the numbers shaking out as 970 Family Dollar stores and only 30 Dollar Tree stores.

Many customers are already upset with the Dollar Tree corporation as they raised their prices from $1 for everything to everything costing $1.25, now they're going to be in even hotter water. They will be closing 600 of those Family Dollar stores in 2024 and the remaining 370 Family Dollar stores and 30 Dollar Tree stores will close in the following years. 

They haven't released a public list of what Family Dollar locations are on the chopping block or which ones will for sure be closed. All we have for now is that they will be closing a large number of the stores with most of them being closed in the first half of the 2024 fiscal year. Michigan may or may not be affected but at least you have a heads up, next time you're in a Family Dollar or Dollar Tree, ask the workers if they have heard anything.