Dollar Tree to acquire 170 99 Cents Only Stores

Dollar Tree, Inc. announced that it acquired designation rights for 170 leases of 99 Cents Only Stores across Arizona, California, Nevada, and Texas. Two transactions in May finalized the deal, both of which received approval from the United States Bankruptcy Court for the District of Delaware. As part of the transactions, the company also acquired the North American Intellectual Property of 99 Cents Only Stores and select on-site furniture, fixtures, and equipment.

“As we continue to execute on our accelerated growth strategy for the Dollar Tree brand, this was an attractive opportunity to secure leases in priority markets where we see strong profitable growth potential,” said Michael Creedon, Jr., Dollar Tree’s Chief Operating Officer. “The portfolio complements our existing footprint and will provide us access to high quality real estate assets in premium retail centers, enabling us to rapidly grow the Dollar Tree brand across the western United States, reaching even more customers and communities.”

Dollar Tree looks forward to welcoming customers from 99 Cents Only Stores as early as fall 2024.

Dollar Tree operates 16,774 stores across 48 states and five Canadian provinces as of February 3, 2024, under the brands Dollar Tree, Family Dollar, and Dollar Tree Canada.

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99 Cents Only Stores

In April, California-based 99 Cents Only Stores filed for Chapter 11 bankruptcy and subsequently initiated a process to dispose of its assets, including its inventory, owned real estate, and store leases.

99 Cents Only Stores LLC announced its decision to end its discount retail chain operations and close its 371 stores. 

Founded 42 years ago, the retailer reported that financial difficulties due to the COVID-19 pandemic, persistent inflation, and changes in consumer demand, among other factors, led them to end the business.

Established in Los Angeles, CA, 99 Cents Only Stores LLC used to operate stores in California, Texas, Arizona, and Nevada and had two distribution centers.