Dollar Tree, the big store that owns Family Dollar, shared some sad news. They said they’re going to close around 1,000 Family Dollar stores because they didn’t do so well lately. They explained that 600 Family Dollar stores would close soon, and another 370 will shut down when it’s time to renew their rent and they decide not to. They also mentioned that 30 Dollar Tree stores will close for the same reason.

A picture shows people shopping at a Dollar Tree store in Chicago on August 2, 2022. This news came after Dollar Tree lost $1.71 billion in just three months.

Dollar Tree bought Family Dollar in 2015 and now has over 15,000 stores. They even started making stores that are half Dollar Tree and half Family Dollar, mostly in places where there aren’t a lot of stores.