Dollar Tree Buys 170 99 Cents Only Stores: Its 370 stores were closed after 99 Cents Only filed for bankruptcy in April.
“Number Holdings, Inc., the direct parent company of 99 Cents Only Stores LLC today announced that it has filed voluntary petitions under Chapter 11 of the U.S. Bankruptcy Code in the United States Bankruptcy Court for the District of Delaware in order to implement the previously announced orderly wind-down of its business and pursue an asset sale that maximizes value,” the company said.
As a result of the closures, Dollar Tree will open more stores at a number of the locations. Here are the details.
What are the latest 99 Cents Only stores?
In the autumn, Dollar Tree will reopen 170 99 Cents Only stores in Arizona, California, Nevada, and Texas with its own branded products.
In May, the United States Bankruptcy Court for the District of Delaware approved two transactions that completed the deal.
It also acquired 99 Cents Only Stores’ North American Intellectual Property and on-site furniture, fixtures, and equipment,” Dollar Tree said.
Can you tell me when Dollar Tree will open new 99 Cents Only stores?
The Dollar Tree brand continues to grow rapidly, so this was a great opportunity to secure leases in markets where we see long-term profitable growth,” said Michael Credon, Jr., Dollar Tree’s Chief Operating Officer.
As a result of the acquisition, Dollar Tree will be able to rapidly expand across the western United States, reaching even more customers and communities, and will be able to access high quality real estate assets in premium retail centers.
Dollar Tree expects to open these stores in the fall of 2024, according to the statement.
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