Posted on 05/31/2024 7:30:55 PM PDT by SunkenCiv
Dollar Tree has saved 170 shops that were set to be shuttered by rival 99 Cents Only after it went bankrupt.
It is a boost for budget shoppers in Arizona, California, Nevada, and Texas - who have been mourning the loss of the popular chain.
Dollar Tree announced on Wednesday that it had bought rights to the leases for the stores.
At the same time, it has paid for the 99 Cents Only's 'intellectual property,' meaning it has the option to keep some stores open under the brand or even open new ones using it.
West Coast-based 99 Cents Only had a cult following in the four states. But high inflaton and rising theft forced it to file for Chapter 11 bankruptcy and announce the shuttering of all 371 of its locations.
Since then it has been clearing stock. Die-hard shoppers of 99 Cents Only have been flocking to stores in and stripping shelves bare to snap up bargain...
Meanwhile, fellow discount chain Ollie's announced earlier this week that it will acquire 11 former 99 Cents Only Stores in Texas for $14.6million in cash. See below for the full addresses of these...
Ollie’s, based in Pennsylvania, operates 516 stores in 30 states...
Dollar Tree said last month it was raising the maximum price cap on its goods to $7.
The company also owns Family Dollar, and plans to shutter nearly 1,000 of those - 600 this year and the rest when leases end.
(Excerpt) Read more at dailymail.co.uk ...
The Family Dollar in my hometown reorganized the store in the past year or so.
Did they pay 99 cents each for them? Then, they’re clearly NOT 99 cent stores.
/rimshot
If they built them on volcanic rock would they have to call them the Lava Tree?
Glad to know that some jobs can be saved.
Cheap Chinese Products (CCP)
Under Bidenflation they are probably at least 199 cents stores now.
I have no beef with Dollar Tree, but the 99 Cent Store is a different animal. They actually have fresh produce in them at reasonable prices. They will be missed.
$5 or $10 stores? Maybe “$5-or-$10 Stores”
Ollie’s sells junk. I would buy books/DVDs there, not much else.
Didn’t we just read that Dollar Tree is closing 1000 stores?
https://apnews.com/article/dollar-tree-discount-inflation-16f0d9b7e2d41d95ee6e6402d96169d0
Why yes. Yes we did.
I hope that means not as many 99 Cent Store employees will be losing their jobs as would have been w/o this acquisition.
Curiosity took me to Ollie’s. Wasn’t worth my time.
I’ll spend $40 a week at Dollar Tree. Solar lights, 50¢ Hallmark cards. Great frosted oatmeal cookies, bottled mushrooms used to be Polish, now Chinese.
Most items in refrigerated cases are too laden with salt. All kinds of chips. Canned fruits cheaper than local grocers. Canned peaches may be tastier than fresh!
Maybe they should change the name of the stores to The Yen (Juan) Tree?
I hate these idiotic stores. In Tampa they are nothing but magnets for the worst kind of walking dead. And the company locates the stores in every neighborhood.
Gotta let the market work. Supply/demand. Capitalism!!
I remember those 99 Cent stores when I was in Commiefornia. I loved asking for price checks on items.
Our Dollar General stores around us in East Texas ain’t that bad. Usually, someone roaming around with some toilet paper and a bag of chips since Walmart is another eight miles down the road.
Occasionally go to Dollar Tree, particularly for throw away sunglasses. Used to be everything was a dollar or less, then $1:25; went there the other day and many items now marked $3 & $5. More Bidenomics!
That would provide a new slant to the situation
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.